Ford will go through with its last leg of job cuts in the next couple of months.
The automaker announced on Monday that it will slash around 7,000 jobs (~10% of its global workforce) by August. The move is part of a larger restructuring, intended to result in $600 million in annual cost savings for the company.
Around 2,300 of the affected people are employed in the United States, according to Ford's spokesman (as reported by Reuters).
According to Chief Executive Officer Jim Hackett, the job cuts include elimination of close to 20% of upper-level managers - a decision which is apparently aimed at mitigating bureaucracy and speed up decision making.
Most of the workforce retrenchment is scheduled to be completed by May 24 in North America, and by the end of August in regions including Europe, China and South America.