[ad_1]
The reorganization of Ford could include more than 24,000 job cuts, reported NBC News Monday (Oct. 8). The automaker has not provided precise figures on the number of employees it will lay off, but its leaders said that the tariff war between President Donald Trump and China could have an impact. on the restructuring of the company.
The NBC report cites an analysis by Morgan Stanley that estimates a 12% reduction in Ford's global workforce, resulting in the loss of about 24,000 workers. Bob Shanks, Ford's chief financial officer, described the cuts as a "redesign" that would include his 70,000 white-collar employees.
With sales well below those of its national competitor General Motors, Ford has launched a $ 25.5 billion reorganization plan. It really began in May 2017 when then-CEO Mark Fields was removed from office.
The company had previously announced that it would abandon production of its sedan, wagon and coupe models, with the exception of the popular Mustang, to focus on SUVs and trucks.
Meanwhile, Ford is regularly bumped into the president. As a candidate, Trump threatened Ford with imposing tariffs when he proposed to build a plant in Mexico. The company gave up these projects and chose to expand in China.
The main impact of Trump tariffs on automakers is the cost they have added to many parts imported from China.
Read the full NBC report here.
Source link
