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Ford to cut 8,000 workers?
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November 5, 2001: 6:29 p.m. ET
World's No. 2 carmaker hopes to save $1B through job cuts, report says.
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NEW YORK (CNNmoney) - Ford Motor Co. is considering cutting up to 20 percent, or 8,000, of its white-collar staff as it overhauls its North American operations, press reports said Monday.
Dearborn, Mich.-based Ford (F: down $0.11 to $16.18, Research, Estimates) hopes to save another $1 billion through the job reductions and plans to announce the cuts at the turn of the year, the interactive version of the Financial Times said.
"We cannot comment on speculation. I have not heard that," said Ford spokeswoman Anne Marie Gitari.
Last week, Ford ousted CEO Jac Nasser and named Bill Ford as his replacement. The world's second-largest carmaker has also announced plans to shed 4,000-to-5,000 salaried workers.
Further details of Ford's restructuring plans to turn around its North American operations will be announced in mid-January, Gitari said.
It would be inaccurate to say that personnel cuts will comprise the major piece of the overhaul, Gitari said. 
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