8/31/2020, 7:00 PM (Source: TeleTrader)
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Report: Ford to announce voluntary job cuts

Ford Motor Company is set to announce voluntary job cuts among office workers in an attempt to curb the effect of the coronavirus pandemic on its business, StreetInsider reported on Monday, without disclosing a number of employees who are expected to leave the company. The Michigan-based firm is likely to unveil the decision next week.

According to the report, the vehicle manufacturer will offer nine months of severance for workers that opt to take a voluntary buyout.

Ford's shares slipped 1.95% at 12:51 pm ET to trade for $6.80 following the report's release.

Breaking the News / GA