Ford Motor Co. aims to cut about 10% of its global workforce amid Chief Executive Officer Mark Fields’s drive to boost profits and the auto maker’s sliding stock price, according to people briefed on the plan.

The move comes as Ford targets $3 billion in cost reductions for 2017, a plan intended to improve profitability in 2018 even as U.S. auto sales plateau. Ford’s share price has suffered during Mr. Fields’s three-year tenure, and the company’s market value has slipped far behind those of Tesla Inc. and General Motors...