Ford to cut 7,000 jobs worldwide

Ford Motor Co. CEO Jim Hackett has told the motor company’s employees in an email that it will cut 7,000 jobs globally by the end of August in an effort to save costs.

2,300 of the 7,000 cuts will be made in the U.S. and will reduce Ford’s workforce by 10 per cent.

Ford says the cuts will be made through both voluntary and forced redundancies, and will save the company $600m (€537m) a year.