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.
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.
Automakers are also investing heavily in self-driving cars and other new technology.
Back in January, following criticism and pressure from Trump, Ford pledged to scrap plans for a Mexican auto plant and added 700 jobs in MI instead.
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.
The company reported EPS of $-0.24, below the consensus estimate calling for EPS of $-0.21 - a negative surprise of -12.62%. The business had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.27 billion.
There's a lot of work left, but after this second round there's only four teams left. "It's part of our system", Josi said. They proved that through the first four games of this series, too, with a combined 16 goals against the Ducks.
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.
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.
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.
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.
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.
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.
Why the Patching Problem Makes us WannaCry
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.
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.
Carnival Corp (CCL) Shares Sold by Capital Analysts LLC
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.
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 .
Solución de la situación en Venezuela son las elecciones — Parolin
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 ".