The move comes as Ford struggles to boost sales and earnings after a sharp slump in recent months. Since Fields became CEO in 2014, Ford's stock price has fallen almost 40 percent.
Ford Motor said Wednesday it would cut its salaried workforce in North America and Asia by almost 10% as it seeks to boost profitability amid a falling stock price.
Job cuts form part of Ford's previously announced strategy to generate $3 billion in cost reductions, a target that the company's management team believes is necessary to boost profitability in the face of flagging sales in the world's two largest auto markets, the USA and China.
Ford, in an official statement, did not confirm it is slashing jobs.
The buyouts are part of a strategy Ford laid out last September at its investor day conference, when CFO Bob Shanks said the automaker would be looking to save about $3 billion per year each of the next three years as costs rise.
Sweden drops case, but WikiLeaks' Assange not in the clear
American authorities have prepared charges to seek Arrange's arrest, CNN reported, citing US officials familiar with the matter. Sweden's top prosecutor says she is dropping an investigation into a rape claim against WikiLeaks founder Julian Assange after.
Ford's profits dropped by 35 percent in the first quarter of 2017 as a result of rising costs, pricey recalls and a drop in fleet sales.
Ford's shares have lost more than a third of their value since Mark Fields became CEO in 2014. Earlier this year, it announced it would add 700 workers to a suburban Detroit plant in 2018 to make electric and self-driving vehicles. But that move set off a political firestorm during the presidential campaign past year, then-candidate Donald Trump launching a Twitter attack on Ford and threatening retaliatory measures, including a border tax.
After seemingly appeasing US president Donald Trump past year with the cancellation of a proposed $1.7 billion (Rs 10,738 crore) Mexico-based factory and the announcement of a $700 million (Rs 4,421 crore) investment into a plant in Michigan, US, the move could anger the famously nationalistic Republican president. In reality, the maker said it changed plans due to declining passenger auto demand. About half of Ford's employees live in America. The good news - for now - is that it won't impact hourly employees.
Blessed with the best-selling vehicle in the USA, the enormously profitable F-series pickup truck, which would be a Fortune 500 company on its own, Ford remains endowed with strong financials.
"We have not announced any new people efficiency actions, nor do we comment on speculation", he said. It expects to rake in 9 billion dollars this year, down 1.4 billion dollars from 2016.
Un instant interloquée, la jeune femme s'est finalement vengée en lui donnant une tape sur l'épaule, avant de s'en aller. Alors qu'il était en pleine interview, un journaliste de la BBC a été importuné par une passante.
It reported that the messages, which began when the girl was a sophomore in high school, indicated Weiner knew she was a minor. He said he ended the habit, but it resurfaced in 2013, leading him to pull out of the race for NY mayor that year.
Its North America segment includes Carnival Cruise Line, Princess Cruises (Princess), Holland America Line and Seabourn. Following the sale, the director now directly owns 26,684 shares in the company, valued at approximately $1,555,410.36.
Cornyn said Rosenstein asked for "a single point of contact so that we can coordinate and facilitate this". Trump cited displeasure with the FBI's Russian Federation probe as a factor in dismissing Comey.
Wilburn who is also Black, says Mazzilli reduced her responsibilities and sabotaged her until she was sacked in January. During that time, her suit says Mazzilli was 'hostile to Wilburn based upon her race and age'.
The remaining students were transported to the Trevor Fire Department to be released to school officials and parents. A vehicle and a school bus were involved in an accident in Kenosha County Friday morning, authorities said.
So This is Why Baker Hughes Incorporated (BHI) Is So Strong
The company reported EPS of $-0.24, below the consensus estimate calling for EPS of $-0.21 - a negative surprise of -12.62%. Sumitomo Mitsui Asset Management holds 0.04% of its portfolio in Baker Hughes Incorporated (NYSE:BHI) for 30,865 shares.
Le Wydad de Casablanca champion — Botola PRO
A deux journées de la fin de la Botola, le Wydad de Casablanca (WAC) s'est déjà adjugé le titre de champion. Les rouges et blancs ont vite remis les pendules à l'heure grâce a leur serial buteur William Jebor.
Tottenham striker Harry Kane eyes Premier League century
Kane won last year's Golden Boot with 25 goals but he surpassed that total with his fourth against Leicester on Thursday night. Tottenham finish away at Hull on Sunday but Mousa Dembele is likely to be rested for at least one of the remaining games.