North America English news | North America, Latest News & Live Updates in English | English News (Latest English News) at Lokmattimes.com

American automaker company Ford will be laying off 7,000 white-collar workers as part of their austerity measures which will help the company save around 600 million US dollars a year.The latest cut will affect 10 per cent of Ford's salaried staff worldwide. Around 2,400 jobs cuts are in North America and 1,500 positions will be eliminated through voluntary buyout offer, according to CNN.The workers will start receiving the pink slips from Tuesday and all terminations will be completed by August-end, as per a letter issued by CEO Jim Hackett on Monday.The company has been making eliminations as part of a massive restructuring of its business. As per the plan, they are set to shut down three plants in Russia and one factory each in Europe and Brazil.Even though Ford is doing fairly well on the domestic front, it has struggled overseas. It reported losses in South America, Asia, and Europe, despite doing well in North America.The automaker's job-cuts are similar to what its rival, General Motors (GM), has been doing. GM, in an announcement last November, cut off around 8,000 jobs, which is equivalent to 15 per cent of its salaried and contract workers. Apart from this, GM also shut down five North American factories.

Home

City

Latest News

Cricket

LT Premium

National

International

Maharashtra

Opinions

Chhatrapati Sambhajinagar

Nagpur

Entertainment

Photos

Business

Technology

Sports

Lifestyle

Social Viral

Lokmat Games

Health

ICC Women's ODI World Cup 2025

Diwali 2025

Maharashtra News

Mumbai Local

Weather Update

Mumbai Rains

North AmericaFOLLOW

North america, Latest News

Business :Samsung to ramp up IoT business in India after 5G roll out

Samsung will introduce more Internet of Things (IOT) or connected appliances that can be controlled through devices such as smartphones in India when the market is ready and has 5G connectivity, a top company executive said on Tuesday. ...

Business :Less than 10% South Asian homes have an IoT device

Just 8.7 per cent of homes in South Asia have Internet of Things (IoT) or "connected" devices such as Internet-enabled TVs or surveillance camera against a global average of 40 per cent, new research said on Monday. ...

International :Ford to layoff 7,000 white-collar workers

American automaker company Ford will be laying off 7,000 white-collar workers as part of their austerity measures which will help the company save around 600 million US dollars a year. ...