Breaking News Emails Get breaking news alerts and special reports. The news and stories that matter, delivered weekday mornings. SUBSCRIBE May 20, 2019, 3:03 PM UTC By Corky Siemaszko Five hundred salaried Ford workers were informed by letter Monday that they were being laid off and will have to clean out their desks by the end of the week. And that’s just the first of a wave of layoffs in the U.S. that is expected to hit 800 by the end of June and 7,000 worldwide by the end of August, Ford CEO Jim Hackett said in a letter to employees. Bearing the subject line “Smart Redesign Update,” Hackett wrote that the cuts will reduce the management ranks by 20 percent and result in annual savings to the company of $600 million. “We also made significant progress in eliminating bureaucracy, speeding up decision making and driving empowerment as part of this redesign,” according to Hackett. Hackett also wrote the company is trying to make the separation as painless as possible. “Ford is a family company and saying goodbye to colleagues is difficult and emotional,” Hackett wrote. “We have moved away from past practices in some regions where team members who… Read full this story
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