Ford to cut 1,400 jobs in N America, Asia to boost its sagging stock price

Ford Motor Co said on Wednesday it plans to cut 1,400 salaried jobs in North America and Asia through voluntary early retirement and other financial incentives as the second largest US automaker looks to boost its sagging stock price. Ford said the cuts would amount to about 10 per cent of a group of 15,000 salaried workers.

The company said a large group of salaried workers would not be covered by the planned cuts, including those in product develop and in the Ford Credit unit. The cuts will not apply to Ford's Europe or South.

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