Ford Motor Credit announces job cuts

Ford Motor Credit announces job cuts

Ford Motor Credit is the financial arm of the US based automotive giants Ford Motors and they have just announced their decision to cut as many as 2000 jobs.

This would mean that the company is cutting around a quarter of all of their US based jobs. They would also be closing around 59 U.S. branch offices over the next year.

These job cuts are in addition to the already announced cut of 14,000 salaried jobs by the parent company Ford.

Market analysts have said that this announcement just proves that the company is working hard on cutting costs across its operations as they face pressure from investors to become profitable again.

The company said in a statement that these job cuts would be made through a combination of attrition, early retirements, and voluntary separations.