File picture: Kacper Pempel / Reuters.

New York - Ford plans to cut its global workforce by 10 percent, the Wall Street Journal reported in its online edition late Monday.

The move is aimed at boosting profits and shoring up its sinking stock price, the newspaper wrote, citing people familiar with the matter.

An announcement on the plan is expected as early as this week.

A Ford spokesman described the report as "speculation" though he did confirm that "reducing costs and becoming as lean and efficient as possible" remained part of a plan to drive profits.

In the meantime, "We have not announced any new people efficiency actions," he said.

Ford has 200 000 employees worldwide, around half of them in the US, where car sales have cooled recently after years of boom.

Any move to cut their jobs is likely to draw criticism from President Donald Trump, who has made a point of supporting carmakers and excoriated manufacturers who cut investment or move jobs abroad.