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Ford to cut global workforce
Posted on 6th October 2018
US automaker Ford -- which announced a major restructuring in July -- unveiled plans Friday to reduce its workforce worldwide, without specifying the extent of the plan.

"We are in the early stages of reorganizing our global salaried workforce to support the company's strategic objectives, create a more dynamic and empowering work environment, and become more fit as a business," Ford said late Friday.

"The reorganization will result in headcount reduction over time and this will vary based on team and location. We will announce more specifics at the appropriate time."

On July 25, Ford announced that a revamping of the company's operations could result in one-time charges of $11 billion over the next three to five years.

But it did not say whether this would result in job cuts or plant closures, rather indicating that it was considering redesigning certain models, reallocating cash to profitable segments and reconsidering certain strategic partnerships.

In April, Ford surprised many analysts by announcing massive cost-cutting targets and plans to phase out many sedans in North America amid surging demand for sport-utility vehicles and other trucks.

Ford said in late September that the company was seeing profits slashed by $1 billion due to tariffs imposed by President Donald Trump.

Related Companies: Ford India Limited   

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Posted on 17th June 2019
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PM Modi pitches for structural reforms in agriculture to boost investment
Posted on 15th June 2019
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Importance of Bitcoin futures has been understated, JPMorgan says
Posted on 15th June 2019
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Air India spreads its wings, plans flights for Bali, Nairobi and Toronto
Posted on 15th June 2019
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