Ford cuts could eclipse GM’s, Morgan Stanley says

In the first half of next year, Ford Motor Co. will detail plans to lay off part of its global salaried workforce — and Morgan Stanley analyst Adam Jonas said in a note Monday that the Blue Oval’s cuts could exceed the 8,000 salaried employees targeted by rival General Motors Co.

Ford’s response: “pure speculation.”

“As we have said, we are undertaking restructuring activities that could result in potential EBIT charges of $11 billion, with cash-related effects of $7 billion, over the next five years,” Ford spokeswoman Karen Hampton said in a statement. “These actions will come largely outside of North America. This includes the targeted and thoughtful approach we are taking to the redesign of our global salaried workforce.

“All of this work is ongoing and publishing a job-reduction figure at this point would be pure speculation.”