Ford to Cut 3,000 Jobs - TheStreet

Ford to Cut 3,000 Jobs

The No. 2 automaker is aiming to meet profit forecasts in a fiercely competitive environment.
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Ford (F) - Get Report announced Tuesday that it will eliminate 3,000 salaried jobs in a cost-cutting measure, Reuters reported.

The positions are for 1,700 contract workers and 1,300 vacant jobs, Reuters said.

The No. 2 automaker is aiming to meet its profit forecasts, made more difficult by the price-incentive battles in the automobile industry.

Earlier today, Ford had ratified contracts with the United Auto Workers union that provides for Ford's closure of four plants in the next four years, which would eliminate 4,600 jobs.