The automaker aims to shed around 10% of its salaried employees in North America and Asia by September.
Editor’s Remarks: After suffering the indignation of having its market capitalisation surpassed by Tesla last month, Ford is now slashing jobs to boost its share price and profit margins. Many expect that the move will draw Ford into conflict with President Trump, who criticised the automaker for outsourcing jobs on his campaign trail. In an act of apparent capitulation, Ford cancelled its plan to build a $1.6bn factory in Mexico. The latest cuts, however, should not affect the Ford shop floor, which is where Trump’s support base is concentrated.