Ford cuts global white collar workforce by 7000

In an email to employees, Jim Hackett, CEO of Ford, outlined his plan to eliminate "7000 salaried positions or about 10% of our global salaried workforce". It should be noted this number includes "both voluntary and involuntary separations over the past year". Citing a fast-changing industry, Hackett says the changes will "reduce bureaucracy, empower managers, speed decision making, focus on the most valuable work, and cut costs".