According to reports from Detroit, the restructuring will cost in the region of £2.8bn, with five assembly plants identified for closure. Ford intends to divert funds into product development, and hopes to launch up to 20 new or revised models over the next four years.
Ford chairman and chief executive officer Bill Ford said: “Our revitalisation plan is based on executing the fundamentals of our business to build great products.
“We are outlining a comprehensive plan that builds for the future.”
Mr Ford stressed that it would require everyone in the “extended Ford family” working together to make it work, including employees, suppliers and dealers.
The cuts are unlikely to have a major impact on the UK, however, which has already implemented a restructuring plan including the closure of manufacturing at Dagenham with the loss of 2,600 jobs.
Dagenham has since been established as a “centre of excellence” for engine design and development.
Ford of Britain dismissed media speculation that it is considering closing its factory in Southampton, which builds the Transit van.
Ford also intends to cut worldwide car production by 1m vehicles and is considering selling its Kwik-Fit repair chain in the UK to focus on core operations.