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Ford to cut 1,400 white-collar jobs in North America, Asia

May 17 Ford Motor Co said on Wednesday it plans to cut 1,400 salaried jobs in North America and Asia through voluntary early retirement and other financial incentives as the No. 2 U.S. automaker looks to boost its sagging stock price.

Ford said the cuts would amount to 10 percent of a group of 15,000 salaried workers. The company said a large group of salaried workers would not be covered by the planned cuts, including those in product develop and in the Ford Credit unit. The cuts will not apply to Ford's Europe or South America units.

About two-thirds of the planned cuts are in North America and the rest in Asia. (Reporting by David Shepardson; Editing by Jeffrey Benkoe)

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