Ford Motor Co. is offering buyouts to its U.S. salaried workers in an effort to trim its work force by about 1,400, the Wall Street Journal reported Wednesday. The move comes as the car maker seeks to recover from a slump in car sales during the pandemic and the closures of some plants earlier in the year. Ford has about 30,000 salaried U.S. workers, the paper said. If too few people volunteer, the company may cut jobs, the report said, citing an internal company memo. Ford cut about 7,000 workers around the world last year, mostly in Europe, South America and other markets overseas. Ford shares were up 1%, but have fallen 26% in the year to date, while the S&P 500 has gained 9%.
-Ciara Linnane; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
September 02, 2020 11:23 ET (15:23 GMT)
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