Ford cutting 7,000 white-collar jobs, about 10% of its global salaried workforce

DETROIT (AP) — Ford is almost finished with a major global restructuring and by the time it ends in August the automaker will have shed 7,000 white-collar jobs.

The company said Monday that the plan will save about $600 million per year by eliminating bureaucracy and increasing the number of workers reporting to each manager.

The cut amounts to 10 percent of Ford's global salaried workforce.

In the U.S. about 2,300 jobs will be cut through buyouts and layoffs. About 1,500 already have happened. About 500 workers will be let go this week.

This is a developing story.