Ford Motor Co. (NYSE:F) has offered severance packages to a number of white-collar workers, according to The Wall Street Journal.
An internal email reviewed by the paper indicated that significant changes in policies for salaried employees is driving the change. The workers offered the packages had been “deemed underperformers” by the automaker. The criteria was described by the outlet as targeting workers with 8 or more years tenure and had demonstrated “a pattern of declining performance.”
Ford shares slipped 0.9% in early pre-market trading.
Read more on the automaker’s pricing moves in China on Monday.