Ford Plans to Slash Global Workforce by 10 Percent: Report | NBC Chicago
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Ford Plans to Slash Global Workforce by 10 Percent: Report

Investors are concerned that U.S. sales are peaking and Ford's market share is slipping

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    NEWSLETTERS

    Ford Motor Co. is planning substantial job cuts in order to boost profits and raise its stock price, according to the Wall Street Journal.

    (Published Tuesday, May 16, 2017)

    The Wall Street Journal reports that Ford Motor Co. is planning substantial job cuts in order to boost profits and raise its stock price.

    The newspaper says the cuts would target salaried employees and would reduce Ford's global headcount by an equivalent of 10 percent.

    Ford didn't confirm the report Monday night.

    In a statement, the company said it's focused on reducing costs and improving efficiency. But Ford said it hasn't announced any job cuts and won't comment on speculation.

    Sanders Vs. Reporters Over Latest Fake News Tirade

    [NATL] Sanders Argues With Reporters Over Latest Fake News Tirade

    White House deputy press secretary Sarah Huckabee Sanders displayed the administrations's antagonism against the media in heated exchanges with members of the White House press corp during the daily press briefing on Tuesday, June 27, 2017. Sanders pointed to a retracted CNN story as basis of the White House's "frustration" and skepticism with ongoing coverage, while one reporter accused the White House of "inflammatory rhetoric."

    (Published Tuesday, June 27, 2017)

    Investors are concerned that U.S. sales are peaking and Ford's market share is slipping.

    Ford's shares have lost more than a third of their value since Mark Fields became CEO in 2014. Electric car maker Tesla Inc. recently surpassed Ford in market value even though it sells far fewer vehicles.