The Detroit automakers have been under pressure from U.S. President Donald Trump to add jobs in the United States, but declining U.S. sales and stalled share values are exerting a stronger force.
According to a person briefed about the plan, Ford plans to offer generous early retirement incentives to cut its salaried headcount by 1 October.
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.
What's more, the US auto market, where Ford makes the bulk of its profit, appears to have peaked in 2016, meaning Ford must find other areas to bolster the bottom line. The auto maker said it expects 1,400 salaried positions to be affected by the end of September, as part of its plan to reduce costs and becoming as "lean as efficient as possible".
Ford has not said how the new job cuts will impact its earnings for all of 2017.
Since Mark Fields became Ford's chief executive in 2014, company shares have fallen by almost 40 percent.
About two-thirds of the buyout offers are in North America and the rest in Asia. Ford has about 30,000 salaried US employees, a company spokesman said. Morgan Stanley analyst Adam Jonas says Ford should consider exiting unprofitable vehicle lines, like small cars, or markets, like India.
Earlier this year, the niche electric vehicle company Tesla passed both Ford and GM in market value, despite having a small fraction of either company's sales.
After getting plenty of attention in the automotive realm with rumors of mass layoffs, Ford has released a statement confirming a reduction in its salaried, white-collar workforce. It previously forecast re-tax earnings of $9 billion, down from $10.4 billion for all of past year.
Emenalo said: "After Kante's first training session with us the players hugged him and we sent Leicester flowers". Layla Anna-Lee tells you exactly why she believes N'golo Kante is not the best midfielder in the world.
Once she was hired, Wilburn claims her boss, Grace Mazzilli , immediately became "hostile to Wilburn based upon her race and age". An employee at Gianvito Rossi's Manhattan boutique said Mazzilli was unavailable to comment because she's traveling in Italy.
He said the youth in Pakistan is getting exploited due to "poor governance" and "lack of justice" in society. Gen Bajwa said that Pakistan Army was the only army in the world that has defeated terrorism of this scale.
In fact, the real reason hackers and criminals attack Windows is that it's the most popular desktop operating system in the world. Microsoft , for instance, ended support and the issuance of security patches for their operating system (OS) Windows XP in 2014.
According to the World Health Organization, two-thirds of the total population of the country are on the brink of starvation . It launched an appeal for help from global humanitarian organisations to deal with the crisis.
The other student passengers were taken to Trevor Fire Department to be picked up by parents or released to school officials. A vehicle and a school bus were involved in an accident in Kenosha County Friday morning, authorities said.
Trump's tweet came the morning after he asserted Comey had told him three times that he wasn't under FBI investigation. She remains incredulous, she said, that he wrote it - and that it may have served as the basis for Comey's firing.
The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website . With all other things going on, Carnival Corporation (NYSE:CCL) has been on a run - rising 6.46 percent in just three months.
Habló el secretario de Estado El Vaticano advierte que sin elecciones la situación en Venezuela "puede ser cada vez más dramática " El Vaticano ratificó su pedido de que se celebren elecciones en Venezuela porque la situación en el país sudamericano puede volverse "cada vez más dramática ".
Two years later, he announced a run for New York City mayor but dropped out of the race when more explicit messages became public. Wearing a navy-colored suit, maroon tie and his wedding band, a tearful Weiner, 52, described his conduct before U.S.
Alex Smith to 'embrace' relationship with Mahomes
" I'm at a different place than the last time I dealt with something like this ", Smith said, per the Kansas City Star . I remember being there. "Yeah, we talked ... it really was just touching base", Mahomes said.
Entregó Corral a Peña documento de investigación sobre Miroslava
La investigación sobre el asesinato de Breach ya está concluida, según indicó Corral Jurado a medios nacionales el día de ayer, cuando entregó un informe al presidente de México, Enrique Peña Nieto, sobre este caso y le solicitó algunas gestiones, de las cuales no se dio mayor detalle.
Donald Trump to set up panel to investigate voter fraud
Last month, Kobach got his first conviction of a noncitizen who illegally voted in a Kansas election without being a US citizen. Mr Trump won the presidency with an Electoral College victory despite losing to Mrs Clinton by almost three million votes.
Here's the Manchester United to team to face Celta Vigo
A second-half Marcus Rashford free-kick saw United claim a 1-0 win on Thursday, giving them the upper hand in the last-four tie. Rashford and United could have had more of an advantage to take back to Old Trafford for the second leg on May 11.
Rs 45 crore in old notes seized from tailor in Chennai
The raids on the premises of sand mining baron Sekhar Reddy and two of his associates last December have been the biggest so far. Since the Prime Minister announced demonetisation on November 8, there have been multiple raids in Chennai .