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Ford to cut 7000 white-collar jobs as a part of cost-cutting effort

Ford is cutting 7000 white-collar jobs or about 10% of its salaried staff worldwide. This comes as a part of a cost-cutting effort that will save the company about $600 million a year. Ford will notify workers from Tuesday. About 2400 job cuts are in North America & 1500 positions will be eliminated through a voluntary buyout offer. Ford will close 3 plants in Russia, 1 factory in Europe & another in Brazil.