Ford Announces Cuts To Global Workforce To Improve Profits, Efficiency

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PHILADELPHIA (CBS/CNN) — Ford, the second largest automaker in the nation, is trimming part of its global salaried workforce.

The announcement is part of the carmaker's plan to improve profits and become more efficient.

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"The reorganization will result in headcount reduction over time and this will vary based on team and location," a spokesperson said in a statement.

There's no word on how many jobs ford will cut, or when it will happen.

The spokesperson said it would announce specifics at the "appropriate time."

The company's shares have dropped 26 percent this year.

Ford says its North American division is doing well, but the company is struggling in Asia and Europe.

In, July, Ford said it was making big changes to its core auto division and would spend $11 billion to help it adapt.

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The company has not detailed its planned changes, but Ford and top automakers are focusing on trying to develop self-driving cars. Analysts have been critical of Ford's lack of transparency.

Shares were slightly down on Friday.

(© Copyright 2018 CBS Broadcasting Inc. All Rights Reserved. CNN contributed to this report.)