Ford CEO discounts job-cut report, promises more news this week

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Hackett: Ford did not give figures to Morgan Stanley analyst Adam Jonas.

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DETROIT – CEO of Ford Motor Co. trivialized a report that the automaker could reduce 25,000 jobs and said he would share more news later this week.

CEO Jim Hackett told reporters Tuesday that Ford has not provided figures to Morgan Stanley analyst Adam Jonas, who estimated the significant staff reduction in a report a day earlier. Ford said in July that it would spend three to five years on a $ 11 billion reorganization.

Ford will make an interim announcement later this week about plans for its staff, Hackett told reporters in Michigan. General Motors announced last week that it will cut more than 14,000 employees by the end of next year and close seven plants worldwide.

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