Ford to cut 1,400 salaried jobs in North America, Asia

FILE - This Feb. 11, 2016, file photo shows the Ford logo on display at the Pittsburgh International Auto Show in Pittsburgh. Ford Motor will spend $1 billion to take over a robotics startup to acquire more of the expertise needed to reach its ambitious goal of having a fully driverless vehicle on the road by 2021. The big bet announced Friday, Feb. 10, 2017, comes just a few months after the Pittsburgh startup, Argo AI, was created by two alumni of Carnegie Mellon University’s robotics program, Bryan Salesky and Peter Rander.(AP Photo/Gene J. Puskar, File)

DETROIT (AP) — Ford Motor Co. plans to cut 10 percent of its salaried jobs in North America and Asia Pacific this year in an effort to boost profits.

The company says it will offer voluntary early retirement and separation packages to its workers. It expects 1,400 positions to be affected by the end of September.

Ford says its European and South American operations have already cut workers and won’t be affected.

The company says it will release more details to employees in June.

Ford’s stock price has fallen nearly 40 percent over the last three years as investors worry that U.S. sales are peaking. Ford is also spending heavily on future technology, like self-driving and fully electric cars.

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