Ford (F) announced that it plans to cut 1,400 salaried positions in North America and Asia through buyouts and early retirement packages by the end of September.
The cuts represent nearly 10% of the company's global salaried workforce of 15,000. Ford has previously announced plans to cut costs in 2017 by $3 billion amid flat sales and a stock price that has fallen nearly 10% year to date.
About two-thirds of the cuts will come from North America, with the rest coming from Asia. The company said that the cuts would not affect its South America or European units.
Jim Cramer and the RealMoney team are on top of the volatile oil market and come with timely insights to help investors navigate commodity's ups and downs. Here is Jim's latest on what's moving crude prices and how investors should play the market