The total annual payment was 1.8 million. US $ 12.7 million base salary Dollar share awards, along with approximately $ 3.2 million $ 19,000 in other compensation, based on publicly announced Friday reports
. A "difficult year" that was "full of frustration".
Ford ( F ) pledged to spend $ 11 billion to restructure its business, hoping to increase sales abroad and modernize its fleet with more focus on electric and standalone driving technology. Competitors, including General Motors, have announced similar plans
Ford's restructuring is expected to cost thousands of jobs worldwide. On Friday, the company announced that it would cut some 5,000 jobs in Germany through its 'voluntary segregation' program and other plans. Ford said to CNN Business that there would be a reduction in jobs in the UK, but the number of positions that will be affected will be "determined".