REPORT: Ford set to cut thousands of jobs

SOURCE: MGN
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(CNN) -- Thousands of workers at Ford Motor Company will reportedly be out of a job.

According to the Wall Street Journal, Ford is making plans to cut about 20,000 jobs in its global staff.

The paper says that most of the jobs will be salaried workers who do not have union protection. That means more than the 57,000 U.S. hourly staff who work on assembly lines could be safe, but there is no guarantee.

The company announced last month it is looking to reduce costs by $3 billion.

Ford would not confirm or deny the report Monday, only saying that "reducing costs and becoming as lean and efficient as possible" is one of its key priorities.