Ford says it's going to lay off 7,000 people worldwide | WHAT REALLY HAPPENED


Ford says it's going to lay off 7,000 people worldwide

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.

Ford says workers will begin to be notified of cuts starting Tuesday, and the terminations will be completed by the end of August. About 2,400 of the jobs cuts are in North America, and 1,500 of the positions were eliminated through a voluntary buyout offer.

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