Ford Motor Co. said Wednesday it aims to reduce its salaried workforce in North America and Asia by 10%, a cost-cutting move aimed at shoring up profits amid cooling sales in the once-booming US and Chinese auto markets.
Ford Motor Co confirmed Wednesday that it plans to reduce 10% of its salaried workforce in its North America and Asia Pacific divisions this year.
Ford Motor, facing pressure to improve profitability amid a lagging stock price, confirmed Wednesday that it would cut almost 10% of its salaried workforce in its North America and Asia Pacific divisions. "Ford has said it expects its profits to fall in 2017 and has flagged slowing sales in the USA and China-two of the world's largest auto markets", the Journal notes. At the same time, Ford is investing heavily in autonomous driving and other newer technologies.
Employees in neither South America nor Europe are included in this announcement, Moran said, because they "already have completed people actions or have them under way". The automaker is under intensifying pressure from shareholders to improve its profits and boost its lagging stock price.
The No. 2 USA auto maker is also facing weaker profits in Asia-Pacific, where softer sales and intensifying price competition in China are dinging profits for the region.
Ford's global headcount sits at some 200,000 employees, so 10 percent comes out to about 20,000 potentially lost jobs.
GST Council meet from today to fix rates on goods, services
Services are likely to be placed in two slabs of 12 per cent and 18 per cent, with a likely status quo for now exempted services. The meeting of the Fitment Committee and preparatory meeting of the officers was convened at SKICC here today in this regard.
While Shanks said the rest of the year would remain flat against the previous fiscal, changed market dynamics with the U.S. auto sales taking a turn from a record-growth phase could bring the company's North America margins further down further after a significant drop in the most recent quarter.
Ford plans to make the cuts through early retirements and "special separation packages" (also expected to be voluntary) for those not eligible for early retirement.
Ford's stock fell to a 52-week low Wednesday morning, trading down about 1.5 percent as of 10:47 a.m.to $10.78 a share.
CVS Health Corporation (NYSE:CVS) Stock Valuation in Focus
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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.
He signed a plea agreement with prosecutors in which he agreed not to appeal any sentence between 21 and 27 months in prison. Hours after the court hearing, Abedin filed for divorce, the New York Post reported , citing court filings.
Además se ha desempeñado como director de la división criminal del Departamento de Justicia, así como procurador de San Francisco. En declaraciones a periodistas, Trump agregó que se trata de una mera excusa de los demócratas por haber perdido las elecciones.
In 2013, he lashed out at Edward Snowden, the National Security Agency worker who leaked US government surveillance documents. CNN did not report the information, but Tapper said CNN has since confirmed that Trump did.
Currently Novavax Inc (NASDAQ:NVAX)'s shares owned by insiders are 0.1%, whereas shares owned by institutional owners are 51.8%. Zacks Investment Research cut shares of Novavax from a "hold" rating to a "sell" rating in a report on Saturday, January 21st.
They are fighting, especially in spring and summer, motivated teams- those who want to get into European Cups or avoid relegation. For an expert, it is a reason to ensure a stable income with the competent rates combined with rational management of the bank.
Weiner's lawyers had been negotiating with federal prosecutors to avoid child pornography charges, the New York Daily News said. Wearing a navy suit, maroon tie and his wedding band, a tearful Weiner, 52, described his conduct before U.S.
The ambitious project envisages bringing in a new era of safe and comfortable travel, said a senior Railway Ministry official. Kedarnath housing the shrine of Lord Shiva, is one of the 12 Jyotilingas at 3,583 metre height, while Badrinath housing.
Even as he erupted anew, fellow Republicans expressed hopes the move would restore some calm to a capital plunged into chaos. Now Mueller will have almost unfettered access to witnesses and information, and the ability to bring criminal charges.
After a Beal 3-pointer late in the third quarter, the Wizards looked like they may have all the answers on this night. Tucker in the second round of the playoffs, and none of the Celtics' options are as suited to defend James as Tucker.
Y más de 63 mil colegios electorales, en todo el país, recibirán a los habilitados a votar durante esta jornada. Ningún presidente en activo ha fracasado en la reelección desde 1981, cuando Jamenei llegó a la presidencia.
Mark Zuckerberg volverá a Harvard para recibir el título
Bill Gates, la persona más rica del mundo con $86,800 millones, perdió $1,000 millones en tanto las acciones de Microsoft Corp. Ambos no terminaron la carrera, pero tienen el reconocimiento de la Universidad por su trabajo.
Chris Cornell se suicidó
Otro vocero de la policía de Detroit , Michael Woody , dijo el jueves a The Associated Press que no podía confirmar dicha información.
Muere Chris Cornell, una voz respetada del rock
Pero su viuda, Vicky Karayiannis Cornell , dijo que el cantante de 52 años no había dado ninguna muestra de querer morir . Cornell dijo que el cantante, un exadicto, tomaba el medicamento recetado Ativan , que trata la ansiedad y el insomnio.