Ford is expected to use voluntary buyouts to trim its work force by about 10%, with reports of Ford wanting to cut costs by $3 billion. That’s a prudent move says Joe Phillipi, a long time auto analyst with Auto Trends Consulting. He spoke with Michigan News Network about the cuts.
“With sales basically moving sideways, I think it’s probably judicious to start trimming where you can trim,” Phillipi said. “It’s just being cautious. I don’t see any reason to panic.”
Analysts expect other car makers to make their own move to keep costs under control. The Wall Street Journal first reported the job cuts Tuesday.