Ford expects to build between 280,000 and 350,000 fewer vehicles in North America this year, and plans to eliminate a number of shifts at its SUV and truck plants.
The meeting between Ford managers and union representatives was the first large formal session between Ford and UAW local leaders since the carmaker warned in May that it wouldn’t meet a long-standing goal of returning to profitability in 2009, reports Automotive News.
Ford confirmed that it will reduce salaried expenses by 15% by August and that the reductions would include involuntary job cuts. Officials didn’t mention how many more buyouts it’s targeting but it’s believed to be about 8,000. The Blue Oval’s current U.S. hourly work force stands at about 54,000 workers.