Ford cutting 1,000 salaried jobs in North America, report says

Ford is shedding 1,000 jobs in North America as part of cost-cutting measures that began two years ago.

The salaried jobs are part of "an $11 billion global restructuring" plan that was put in place prior to the COVID-19 pandemic as the Detroit automaker predicted financial losses, reports Bloomberg News.

A statement offered by a spokesperson didn't deny the published story, first reported Monday evening.

"We are always looking at ways to make our business more effective. There is nothing to announce at this time."

Long before the coronavirus stunted sales for car manufacturers, Ford Motor Company began shifting business away from sedans and toward crossovers, SUVs, and their most profitable truck brand, the F-150.

In 2018, the company announced it was phasing out passenger cars like the Fiesta, Fusion, and Taurus. The restructuring process was expected to cost the company billions as it looked to reduce its workforce globally as well as in North America.

The company and its CEO Jim Hackett said the cost-cutting measures would fall in lockstep with a pivot toward "user experience" and more focus on autonomous and electric vehicles.

Many of those decisions can be seen in its new Mustang and Bronco models, which both offer fully electric options.