Shares of Ford (F) fell slightly after the automaker told the Detroit Free Press it would be cutting salaried workers.
The stock was falling 0.58% to $8.53 a share Wednesday.
Employees on salary in human resources, accounting, and administrative support will be laid off. Some information technology employees in China were reportedly also laid off. Ford didn't provide numbers on the job cuts.
"We're not going to provide any numbers," Ford spokesman Said Deep told the Detroit Free Press. "We will provide details once the process is complete in the second quarter."
Ford cut thousands of jobs in Europe in January as part of an $11 billion cost cutting initiative.
In early February, Ford announced a plan to invest $1 billion into a new manufacturing plant in Chicago, adding 500 wage workers to the automaker's total work force. Competition in sports utility vehicles has intensified, and the new plant is aimed at making premium SUVs.
"We reinvented the Explorer from the ground up, and this investment will further strengthen Ford's SUV market leadership," said Joe Hinrichs, Ford's president of global operations.
While the stock has risen year to date, it has been battered over the past year, falling 21% in the trailing 52-week period.