Home > Ford Motor Co to cut 10% of white-collar jobs as part of global restructuring

Business
Ford Motor Co to cut 10% of white-collar jobs as part of global restructuring

Description

According to Reuters, Ford Motor Co. will cut 10-percent of their white-collar jobs as part of a global restructuring plan. The No. 2 automaker plans to cut about 7,000 jobs by the end of August, which will include 10-percent of it's global salaried workforce. The restructuring is estimated to save Ford about $600 million annually. Ford Chief Executive Officer Jim Hackett said the staffing cuts will include voluntary buyouts and layoffs, while open positions will be frozen.

Added on the 20/05/2019 13:15:27 - Copyright : Wochit

To customise your video :

Or Create an account

More videos on the subject

  • Ford Will Cut 1,400 White-Collar Jobs In North America, Asia

    Ford Motor Co said on Wednesday that it plans to cut 14 hundred salaried jobs in North America and Asia, through voluntary early retirement and other financial incentives. The Number two U.S. automaker is looking to boost its sagging stock price. The buyout offers were a fraction of the 20 thousand job cuts some news outlets had reported Ford could announce this week. About two-thirds of the buyout offers are in North America, while the rest will be in Asia. Ford does not plan to cut hourly workers or production.

    17/05/2017 - Wochit
  • Ford To Cut 10% Of All Jobs

    FILE PHOTO: FILE PHOTO - The Ford logo is pictured at the Ford Motor Co plant in Genk,Belgium December 17, 2014. REUTERS/Francois Lenoir/File Photo DETROIT (Reuters) - Ford Motor Co said on Monday it will eliminate about 10% percent of its global salaried workforce, cutting about 7,000 jobs by the end of August as part of its larger restructuring in a move that will save the No. 2 automaker $600 million annually.

    20/05/2019 - Wochit
  • Automakers Schedule Production Cuts Fastest Since Great Recession

    Manufacturers in the auto industry have begun scheduling production cuts faster than at any time since the Great Recession, despite an otherwise healthy economy. General Motors, which has already been dropping shifts since last autumn, now says it will eliminate another shift at the Fairfax, Kansas plant which builds its popular Chevrolet Malibu. Bulging inventories on both sides of the border will extend the summer shutdown at two of the automaker's Canadian plants.

    23/06/2017 - Wochit
  • Nissan To Cut Over 10,000 Jobs Globally

    Nissan Motor Co is planning to cut more than 10,000 jobs globally as part of efforts to turn around its business. The cuts include the 4,800 already announced in May, and will mostly be at factories overseas, says Reuters. In May, Nissan forecast a 28% plunge in its annual operating profit after a 45% fall in the previous year. The Renault-Nissan alliance has been under strain since the arrest and ousting of Chairman Carlos Ghosn.

    24/07/2019 - Wochit
  • Ford To Cut 12,000 Jobs By 2020

    Ford said it will cut 12,000 jobs in Europe by the end of next year to try to return the business to profit. Ford Europe has been losing money for years, according to Reuters.com. Pressures to restructure increased after GM raised profits by selling it's Opel and Vauxhall brands to Peugeot. Ford said it would close three plants in Russia, one in France, and one in Wales. Ford also plans to cut shifts at factories in Valencia, Spain and Saarlouis, Germany. Ford’s manufacturing footprint will be reduced to 18 facilities by end-2020, from 24 today. About 12,000 jobs will be affected by the end of 2020 and around 2,000 of those are fixed salaried positions.

    27/06/2019 - Wochit
  • Major Phone Companies Pledge to Stop Selling Your Real-Time Location Data

    According to the Associated Press, telecom companies AT&T, Sprint, T-Mobile, and Verizon recently stated that they won’t provide their customers’ location data to third-party data brokers. A New York Times report in May touched off a major scandal by describing the ways location data, which all four major carriers in the U.S. share with data brokers like LocationSmart, can be abused. This is a good step forward for these companies to make to help protect their customers data.

    19/06/2018 - Wochit

More videosBusiness

Watch video of Shares Of Blue Apron Dipped To An All-time Low. The Meal-kit Subscription Dropped To $1.81 Per Share On Tuesday. The Company Has Faced Increasing Pressures From Competition, Like HelloFresh. Big Companies Like Walmart And Amazon Entering Its Space. In March, Walmart Announced It Was Launching Its Own Line Of Meal Kits. The Company Has Struggled To Attract New Customers And Retain Old Ones Since Going Public Last June. - Blue Apron Shares Drop To A New Low - Label : Wochit -
Business

Blue Apron Shares Drop To A New Low

03/04/2018 21:21:24