Ford to cut 1400 jobs in North America, Asia

An individual informed on the plan stated Ford prepares to provide generous early retirement incentives to decrease its employed headcount by October 1, but does not plan cuts to its hourly workforce or its production. Buyout offers won't be extended to workers in product development, plant manufacturing, information technology, global data and analytics and the Ford Credit financial-services unit.

There was no immediate comment from President Donald Trump, who has needled Ford about taking jobs to Mexico but celebrated the company's USA investments.

About half of Ford's 200,000 employees work in North America.

Declining to comment on any job cuts, Ford said it remained focused on its core strategies to "drive profitable growth".

CFO Bob Shanks said in September that the company expects to cut about $3 billion annually in 2016, 2017 and 2018. The statement added that the company has not announced new people efficiency action nor does it comment on any speculation.

The job cuts are a part of a plan announced previously to slash $3 billion in costs, said the person in the know, as new auto sales in the US have been showing signs of slowing down following seven consecutive years of growth since the Great Recession ended.

In an email to employees, Ford said it wants to strengthen its core business and invest aggressively in new opportunities.

A source familiar with the plan told CNBC that Ford's cuts will involve primarily salaried workers in North America and Asia.

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Ford has close to 30,000 US based salaried workers.

Ford announced in January that it would scrap a plan to build a factory in Mexico in favor of adding 700 jobs in MI.

With auto sales dropping for four consecutive months, Ford Motor Co.is believed considering personnel cuts to reduce the costs, local media reported on Tuesday.

The offer will be open to about 15,300 workers, including 9,600 in the US, 1,000 in Mexico, 600 in Canada and 4,141 in Asia.

Ford will cut up to 10 per cent of its global workforce in an effort to cut $3 billion in costs in the midst of falling auto sales and increased spending on advanced technologies.

And Ford does need that or it'll be almost impossible to fulfill its cost reduction commitment of almost $3 billion, which can virtually stem the decline in the company's stock considering it generated $3.7 billion in net income over the past year and pays an attractive 5.4% dividend yield.

They come as the 2nd largest automaker by market share in the United States looks at profitability amid a flattening of record-setting sales and questions about stock value since CEO Mark Fields took over the company in 2014.

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