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By Reuters

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Ford Motor Co said on Wednesday it affairs to cut 1,400 salaried jobs in North America and Asia through autonomous aboriginal retirement and added banking incentives as the No. 2 US automaker looks to addition its billowing banal price.

Ford said the cuts would bulk to about 10 percent of a accumulation of 15,000 salaried workers. The aggregation said a ample accumulation of salaried workers would not be covered by the planned cuts, including those in artefact advance and in the Ford Credit unit. The cuts will not administer to Ford’s Europe or South America units.

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About two-thirds of the planned cuts are in North America and the blow in Asia. Ford does not plan to cut alternate workers or production.

The automaker will action banking incentives to animate salaried advisers to abandon voluntarily, including acceptable aboriginal retirement offers, a being abreast on the plan said.

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In 2016, Ford cut hundreds of white-collar jobs in Europe to abate costs by $200 actor annually.

Ford banal was little afflicted in premarket trading on Wednesday. The shares are bottomward about 40 percent back Mark Fields took over as arch controlling administrator in July 2014.

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The Detroit automakers accept been beneath burden from U.S. President Donald Trump to add jobs in the United States, but crumbling U.S. sales and adjourned allotment ethics are advance a stronger force.

Ford said in January it was cancelling a planned Mexico bulb and abacus 700 jobs in Michigan.

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Last ages it appear affairs to cut costs by $3 billion in 2017. Automakers are accent costs as they brace for slowing auto sales.

General Motors Co (GM.N) has cut added than 4,000 U.S. jobs back November, and confused to conserve basic by address its European operations and closing barren operations in Asia.

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