Ford (F) plans to hand out pink slips to more of its white-collar workers.
In an email to employees Friday, the No. 2 U.S. automaker said it would eliminate 4,000 salaried positions, or about 10% of its North American total, according to media reports. The cuts will come from attrition, layoffs and the cancellation of some contract and agency positions, a Ford spokesman said, according to Reuters. The bulk will occur during the first quarter of next year. Ford already eliminated 2,750 salaried positions earlier this year. The cuts announced Friday are part of a larger restructuring plan called "Way Forward" that Ford expects to outline in detail in January. Like rival GM (GM), Ford is struggling with intense competition from abroad, as well as a slowdown in consumer demand for gas-guzzling SUVs. Ford lost $284 million in the latest quarter, and its U.S. vehicle sales fell 23% year over year in October. Its shares ended the week at $8.40.>To order reprints of this article, click here: ReprintsTheStreet Premium Services For Personal Service: 877-471-2967
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| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
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| 12,801.23 | 1,342.64 | 2,903.88 | 19.69 |
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