vegassports-odds.com
vegassports-odds.com May 28, 2018


Ford to cut 1400 salaried jobs in North America, Asia

19 May 2017, 10:35 | Melvin Schneider

The cuts are the biggest to Ford's USA white collar staff since 2007, when 7,200 workers took voluntary buyout packages.

The job cuts come following healthy profits and record sales in recent years, though the numbers have been on the decline since the start of 2017.

Ford plans to offer financial incentives to convince salaried employees to depart voluntarily, including generous early retirement offers, a person briefed on the plan said. The company said most skill teams in North American and Asia Pacific will be affected, with the exception of product development and Ford Credit, plant manufacturing, information technology and global data and analytics. Globally, Ford employs a total of about 15,000 salaried workers in the departments that will be affected with about 9,600 of those workers employed in the USA, 1,000 in Mexico, 600 in Canada and 4,141 in Asia Pacific.

Ford's shares have lost more than a third of their value since Mark Fields became chief executive in 2014. "We have not announced any new people efficiency actions, nor do we comment on speculation", the company said.

Ford shares are down almost 40 percent since Fields took the helm in July 2014.

Ford said it will give employees details on the buyout packages in June.

Israel 'shocked' over Trump aide's Western Wall comments
New US ambassador to Israel David Friedman visits the Western Wall after arriving in the Jewish state on Monday. It later annexed East Jerusalem , and in 1980, Israel unilaterally declared "reunited" Jerusalem as its capital.

Macron and Merkel Signal New Move to Strengthen Eurozone
There is a genuine hope here that the French-German relationship, once so fundamental to the European Project, can be rekindled. Speaking in Berlin alongside Ms Merkel, Mr Macron dispelled rumours he wanted to convert national debt into eurozone debt.

Despite Little Evidence Of Fraud, White House Plans To Launch Voting Commission
Though Kentucky does have a history of vote buying and coercion , there have not been documented cases of voter fraud - cases in which people have wrongfully registered to vote.

A Brazilian worker assembles a Ford vehicle on an assembly line at Sao Bernardo do Campo Ford plant, near Sao Paulo, August 13, 2013.

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.

The cuts are part of a previously announced plan to slash costs by $3 billion, the person said, as USA new vehicles auto sales have shown signs of decline after seven years of consecutive growth since the end of the Great Recession.

Ford announced the $3 billion cost cutting goal at the same time it reported sharply lower first quarter earnings.

Ford won praise from Trump when it announced in early January that it was scrapping plans for a plant in Mexico and would invest $700 million in a MI plant to build electric and self-driving cars. In fact, Ford's stock price barely budged this week. It expects to rake in 9 billion dollars this year, down 1.4 billion dollars from 2016.



Other News

Trending Now

Deadline to register to vote draws close
Often people think that applying to pay council tax means you are added to the electoral register too, but that is not the case. ANYONE who wants to have a say on who will be the Isle of Wight's next MP, must be registered to vote by midnight on Monday.

MO Sen McCaskill announces plan to save health care exchanges under Obamacare
Like all Congressional Democrats, McCaskill wants to preserve the Affordable Care Act created under President Obama. Medical maladies are expensive and unplanned for when events necessitate immediate coverage.

Pep Guardiola Makes Interesting Statement On His First Season At Manchester City
United's pre-season tour of the U.S. also features games against the LA Galaxy, Real Salt Lake, Barcelona and Real Madrid. It's my first year here but when I saw what I saw tonight I see what an impact he has had for this club.

What we currently know about the global cyberattack
Overall, despite the volatile trend, the fundamentals remain intact and so does the long-term positive outlook towards Bitcoins. Unfortunately, ransomware is quickly growing in scope, and fast turning into a booming business for cybercriminals.