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Old 05-20-2019, 08:17 PM   #1
reynolds
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Default More Economy Picking Up Bad News: "Ford Has A Better Idea" Cutting 7,000 Jobs

Ford is cutting 7,000 white-collar jobs

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May 20, 2019

Ford is cutting about 7,000 white-collar jobs, which would make up 10 per cent of its global workforce. Ford to lay off 500 salaried workers in the US Ford is cutting about 10% of its salaried staff worldwide, in an effort to reduce costs and cut company bureaucracy, according to a letter CEO Jim Hackett. The company has said it was undertaking a major restructuring, and on Monday said that it will have trimmed thousands of jobs by August. The company said that the plan will save about $600 million per year by eliminating bureaucracy and increasing the number of workers reporting to each manager.

In the U.S. about 2,300 jobs will be cut through buyouts and layoffs. About 1,500 already have happened. About 500 workers will be let go this week. The company said in a statement it does not have details of the impact on its Canadian workforce, but added all restructuring actions in North America will be wrapped up by June. Most of Ford's white-collar workers are in and around the company's Dearborn, Michigan, headquarters. It's the second set of layoffs for Detroit-area automakers, even though the companies are making healthy profits.

In November, General Motors announced it would shed up to 14,000 workers as it cut expenses to prepare for a shift to electric and autonomous vehicles. The layoffs included closure of five factories in the U.S. and Canada and cuts of another 8,000 white-collar workers worldwide. About 5,000 blue-collar positions were cut, but most of laid-off factory workers in the U.S. will be placed at other plants mainly that build trucks and SUVs.

The cuts brought withering criticism of GM from President Donald Trump and Congress, especially the closing of a small-car factory in Lordstown, Ohio. Trump campaigned on bringing factory jobs back to the industrial Midwest. Read more ...


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