Ford's

(F) - Get Report

board is expected to review a plan Wednesday that will cut its white-collar staffing, benefits and other costs by 30%,

The Wall Street Journal

reported.

According to the report, which cited people familiar with the matter, the troubled automaker will mostly cut back on the number of managers and supervisors, rather than lower-level workers.

The company also reportedly is evaluating a new vehicle pricing strategy that will focus on keeping prices closer to the suggested retail price.

A new restructuring program for Ford has been

rumored for weeks as the company looks to revitalize its North American business, which has been hurt by high gas prices and intense competition.

The company has already begun a restructuring plan dubbed "Way Forward" that involves cutting 30,000 jobs by 2012, but that plan has been criticized for not being aggressive enough.

Last week, Ford installed Alan Mulally, a former

Boeing

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executive, as chief executive to replace Bill Ford Jr., the great-grandson of company founder Henry Ford. Bill Ford remains chairman.