Ford Motor Co. is looking to make deeper cuts over the next two years in its non-product expenses.
The company said Monday it wants to reduce its $30 billion non-product expenses, and has set up nine teams to find cost cuts in various departments, including marketing, sales and service, transportation and freight, information technology and machinery and tools. Each team has been charged with finding 20 percent in cost cuts over the next two years.
The target is part of Ford's larger goal to cut $9 billion in expenses by mid-decade, a Ford spokesperson said.
The Detroit News, which first reported the cost cutting measures, said the automaker's immediate goal is to break-even on its global automotive operations this year.