DETROIT -- Ford Motor Co.

said on Wednesday is targeting the elimination of 1,400

U.S. salaried jobs by year end as part of its ongoing, multiyear $11 billion
restructuring.

The layoffs will be achieved through voluntary buyouts, the U.S. automaker said in
an email sent to employees. The buyouts will be offered to employees who are
eligible for retirement.

"We’re in a multiyear process of making Ford more fit and effective around the
world," Ford's Americas President Kumar Galhotra said in the email. "We have
reprioritized certain products and services and are adjusting our staffing to
better align with our new work statement."

Ford has said it was targeting a 10 percent operating margin in North America. Last
year, before the coronavirus pandemic hit operations, Ford's North American
operating margin was 6.7 percent.

The company previously said it expects a full-year loss because of the pandemic's
impact. It expects a pre-tax profit of between $500 million and $1.5 billion in the
third quarter, and a loss in the fourth quarter as it launches several new
vehicles.

Last year, Ford cut 7,000 salaried jobs globally, as well as targeting 12,000
additional layoffs and plant closures in Europe. It also restructured operations in
China and South America. On Oct. 1, Jim Farley will formally become Ford's new CEO,
replacing Jim Hackett.