Ford Credit to Cut Branches, Shift Jobs
Ford Motor Co.’s finance arm will slash branches, shift jobs, and add services in an effort to streamline operations, the automaker said.
Ford Credit, which funds vehicle purchases and leases through Ford dealerships, will pare down its U.S. and Canadian sales operations from 163 to 78 branches, and have them focus on financing all of the company’s car brands instead of a few as in the past.
About 30% of the employees will be asked to relocate or change positions, Ford said.
Ford shares fell 43 cents, or 2.9%, to $14.27 on the NYSE.
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