Ford To Lay Off 7,000 People Worldwide By August

The automaker announced this morning it will be laying off about 10% of its global salaried workforce as part of a restructuring effort that’s expected to Ford $600 million annually.

While the majority of the cuts will happen overseas, around 2,300 of the job cuts coming will happen in the United States. It’s reported that 1,500 of the 2,300 U.S. job cuts include the voluntary buyouts from last year and do not impact hourly factory workers. All layoffs are expected to be completed by August.

You can read the e-mail sent by CEO Jim Hackett to employees regarding the cuts saying approximately 20% of upper-level manager jobs will also be removed to help reduce bureaucracy.