AutoBeta(AutoBeta.net)03/14 Report--

Ford confirmed on Wednesday that it would cut jobs in the United States, which is expected to be completed by the end of June, but Ford did not disclose the number of layoffs. the layoffs will be part of a $11 billion "restructuring" announced by Ford last year.

Ford said last month that it would close its oldest factory in Brazil and said it would withdraw from its heavy commercial truck business in South America, a move that could put more than 2700 people out of work.

Ford said its global restructuring plan would involve thousands of jobs and could close European plants and incur 11 billion dollars in expenses.

Ford is not alone, as the 2018 car market ushered in a "cold winter", sales slowed, major automakers are cutting costs. GM halted production at five North American plants and cut about 8000 jobs, or 15 per cent of its white-collar workforce, while Volkswagen plans to reduce its core Volkswagen brand by up to 7000 and increase its operating margin to 5 per cent.

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