(Bloomberg) — Ford Motor Co. is preparing to trim about 1,000 salaried jobs in North America, looking to its home market for savings as part of an $11 billion global restructuring begun two years ago as it projects an operating loss this year.
The job cuts are aimed at improving the automaker’s efficiency and are not related to rising costs from the coronavirus pandemic, said people familiar with the action on Monday who asked not to be identified revealing internal plans. An announcement could come as early as this week, the people said.
Ford is in the midst of a sweeping reorganization as it seeks to reverse declining fortunes and achieve what Chief Executive Officer Jim Hackett calls financial “fitness.” The company expects to report a full-year operating loss for the first time in a decade.
Last year, Ford closed plants and eliminated thousands of jobs in Europe, where it