Ford plans to shrink its salaried workforce in North America and Asia

Ford Motor Co. is doing its best to fight the downturn in the car market but it’s not that easy, and it seems like it’s not that easy, and the fight is almost lost. The major American automaker is preparing for major reductions to its worldwide workforce amid CEO Mark Fields’ renewed efforts to hike profits and address the company’s falling share price.

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Ford plans to shrink its salaried workforce in North America and Asia by about 10 percent, and will offer generous early retirement incentives to reduce its salaried ranks by Oct. 1, but the company does not plan cuts to its hourly workforce or production levels. Ford is targeting $3 billion in cost reductions this year to enhance earnings in 2018 as U.S. light-vehicle demand begins to slip after seven straight years of gains.

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