New York (CNN Business) Ford is cutting 7,000 white-collar jobs, or about 10% of its salaried staff worldwide, as part of a cost-cutting effort it says will save the company about $600 million a year. About 2,400 of the jobs cuts are in North America, and 1,500 of the positions will be eliminated through a voluntary buyout offer. Ford has been making cuts over the past several months as part of a massive restructuring that is expected to cost thousands of jobs across the globe. Ford is playing catch-up with other automakers, which are further along in their ambitions for electric and self-driving vehicles. Ford has said it's looking at possible outside investors in its electric and self-driving car unit as well.

Source: CNN May 20, 2019 13:17 UTC