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Ford Stock Struggles After US Auto Giant Reveals Aggressive Downsizing Plan

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By CCN: Ford is in the throes of an $11 billion restructuring, which will cost 7,000 white-collar workers their jobs this year. The US auto giant believes the “smart redesign” will save billions, but the Dearborn-based company’s stock continues to struggle. Ford’s ‘Smart Redesign’ Will Save Billions Reportedly, the company is vastly downsizing its managerial workforce. Of the company’s more than 190,000 employees, roughly 70,000 serve in salaried positions. Collectively, Ford’s savings will total close to $600 million per year. According to the Detroit Free Press, who obtained a memo from Ford CEO Jim Hackett this morning, the company has

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* First published on ccn.com

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