Ford announced that it is hacking off a large portion of its business – a move that will make the company 90% reliant on its pickups, trucks, SUVs and commercial vehicles – by the year 2020. The company is targeting $25.5 billion in cost cuts by the year 2022.

Bloomberg wrote an article examining the details of the company's restructuring effort:

Ford Motor Co. is sharpening its knives to cleave another $11.5 billion from spending plans and cut several sedans, including the Fusion and Taurus, from its lineup to more quickly reach an elusive profit target.

The automaker expects to save $25.5 billion by 2022, Chief Financial Officer Bob Shanks told reporters Wednesday as Ford reported first-quarter earnings per share and revenue that beat estimates. The company now anticipates reaching an 8 percent profit margin by 2020, two years ahead of schedule.