The Wall Street Journal is reporting that Ford Motor Company is planning substantial job cuts that will reduce jobs by 10 percent.
The cuts will target salaried employees in order to boost profits and raise stock price.
Ford did not confirm the information Monday night.
The company did release a statement saying it’s focused on reducing costs and improving efficiency, but that they have not announced any job cuts.
Ford’s shares have lost more than a third of their value since the new CEO, Mark Fields began his role in 2014.
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