American car giant Ford has announced on Monday that they are to cut 7,000 jobs across the globe by August in a bid to save costs.
Both voluntary and forced redundancies will be made by Ford to cut 10% of the workforce, according to the car manufacturer.
The plan is to save £471m per annum, seeing 2,300 job cuts in the US. The UK employs 12,000 workers and in March they firm said they are to axe 5,000 jobs in Germany.
Jim Hackett, Ford’s chief executive said, “The total number of positions impacted in the UK is still to be determined.”
He added, “To succeed in our competitive industry, and position Ford to win in a fast-changing future, we must reduce bureaucracy, empower managers, speed decision making, focus on the most valuable work and cut costs.”