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Ford to cut global workforce
WASHINGTON, Oct 6, 2018 (BSS/AFP) – 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.
BSS/AFP/HR/0910