Ford Confirms 1400 Job Cuts In North America, Asia
20 Mai, 2017, 06:05 | Author: Claudine Rigal
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. It expects the actions to be complete by the end of September.
"Reducing costs and becoming as lean and efficient as possible also remain part of that work", it said in a statement.
A source confirmed to AFP that massive job cuts are planned at Ford in the coming days, affecting as many as 20,000 salaried workers.
The company says it will release more details to employees in June.
Investors are concerned that USA sales are peaking and Ford's market share is slipping.
Ford won praise from Trump when it announced in early January that it was scrapping plans for a plant in Mexico and would invest $700 million in a MI plant to build electric and self-driving cars.
Product Development and Ford Credit, which already are improving total operating efficiencies in other ways.
Fernandes scores 3 goals, Sporting KC beats Sounders
Fernandes on the improved effort after halftime: "Basically (coach) Peter (Vermes ) had to scream at us in the locker room". Minnesota United learned today that they will be taking on Sporting Kansas City in the fourth round of the 2017 U.S.
In this Tuesday, May 16, 2017, photo, the logo for the Ford Motor Company appears above a post on the floor of the New York Stock Exchange.
According to the publication, Ford could announce the layoffs as soon as this week and the job cuts will likely target mainly salaried workers.
Ford Motor Co. has said that it wants to reduce costs by $7 billion in 2017 in order to increase profitability next year as US auto sales are expected to stagnate.
General Motors and Fiat Chrysler have cut hourly jobs since the end of past year, as the first decline in US auto sales since 2009 has resulted in excess inventories of new cars on dealer lots. As of mid-morning, Ford shares were off by more than 1 percent, to around $10.83, continuing a almost two-week slide.
Share prices at the beginning of the week closed at US$10.94, barely above Ford's 52 week low of $US10.90 per share, and well below its 52 week peak of US$14.04.
The move comes as Chief Executive Mark Fields is facing pressure from shareholders and board directors to sharpen the company's focus and reverse a almost three-year slid in the stock price.
"Fields was extremely candid about the market challenges including slowing US sales, pricing pressure and rising commodities", UBS said in a research note Monday.
Trump fired FBI Director James Comey last week, prompting some to call for an independent prosecutor to lead the investigation. Mueller, who preceded Comey as Federal Bureau of Investigation director, was the longest serving director since J.
Just a few minutes later, Smart took the same walk and smiled at Olynyk - already sitting in his vehicle and waiting to go home. On Monday night, the Celtics stood tall on the dramatic, nerve-infested stage that is an Eastern Conference semifinal Game 7.
Weiner's lawyers had been negotiating with federal prosecutors to avoid child pornography charges, the New York Daily News said. He was in Federal Bureau of Investigation custody Friday morning after turning himself in, ABC News reported .
Le 7e joueur mondial affrontera le vainqueur du match entre l'Argentin Juan Martin Del Potro et le Serbe Novak Djokovic . Invaincu cette saison sur terre battue, Rafael Nadal s'est incliné en deux petits sets face à l'espoir autrichien.
The meeting of the Fitment Committee and preparatory meeting of the officers was convened at SKICC here today in this regard. Jaitley had earlier this month expressed confidence of the GST Council arriving at tax rates in the May 18-19 meeting.
Two years later, he announced a run for New York City mayor but dropped out of the race when more explicit messages became public. Weiner cried in court as he apologized to the 15-year-old girl at the heart of the sexting case, The Associated Press reported .
At the retail level, the estimated value was Rs 73,289 crore with an increase of 12.44 per cent over the previous year. CMFRI's landing report showed that chub mackerel ( Scomber indicus ) was limited to the Kerala coasts alone.
It has been a miserable season for David Moyes and the club, but the Scot could not fault his players' effort at the Emirates. In the games like that when you go to Stoke you need at some stage to suffer, to stick together and that's what we did.
Combined with the low-power processors and low-resolution screens, both phones should have great battery life in real-world usage. They are expected to launch a slew of devices, most of which will be refined versions of their previous flagship smartphones.
Simona Halep through to Italian Open semis
Muguruza bolted to an early 4-0 lead on her way to winning the first set as the ninth-seeded Williams committed numerous errors . I was just trying to stay in the zone and not think about what's going to happen. "I'm proud of how I handled the pressure".
Melania Trump announces 1st overseas trip as first lady
It was a blindside that will substantially escalate the investigation into the Trump campaign's dealings with Russian Federation . Last week, the New York Times reported that President Trump raised the idea of Guilfoyle as press secretary to his associates.
Microsoft Blames Spy Agencies For Ransomware Attack
Unfortunately, there are many systems that simply are rarely updated , such (believe it or not) many military systems. Users of older software, such as Windows XP, had to pay hefty fees for technical support, it added.
Zynga's (ZNGA) "Buy" Rating Reaffirmed at Jefferies Group LLC
Jefferies Group LLC reissued a "buy" rating and issued a $5.00 price objective on shares of Zynga in a research report on Monday. Finally, Benchmark Co. reissued a "buy" rating and set a $3.65 price target on shares of Zynga in a report on Friday, May 5th.
Always Dreaming heavily favored in early Preakness wagering
Which horse will come out on top? On paper, it's Always Dreaming's race to lose, but these events often don't follow the script. What post position did Kentucky Derby victor Always Dreaming draw for Saturday's Preakness Stakes? He has the pedigree.
Asian shares mixed as Trump, Brazil worries simmer
Temer refused on Thursday to resign after the Supreme Court authorized an investigation into the allegations. Strong economic indicators from the U.S. helped lift the dollar overnight, but it slipped back on Friday.