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Ford's global job cut unlikely to have major impact in India

19 May 2017

Ford has about 30,000 salaried employees in the United States.

The cuts, which Ford said would occur through "voluntary" buyouts and early retirement packages, will affect 1,400 of about 15,000 salaried workers in those regions.

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.

Gilbert said the cuts are expected to come in areas other that IT and manufacturing. It expects the actions to be complete by the end of September. The Middle East and Africa was spared because it's a new, emerging business unit, Ford said. "Ford has said it expects its profits to fall in 2017 and has flagged slowing sales in the US and China-two of the world's largest auto markets", the Journal notes.

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The company says it will release more details to employees in June. After seven straight years of growth, USA sales are starting to slow down, which will hurt automakers' profits.

- In January Ford laid out plans to cut around $3 billion of costs a year.

Ford's move to cut its salaried workforce instead of assembly-line workers could protect it from scrutiny by President Donald Trump. Mr. Fields has pushed new technology investments like a $4.5 billion electric-vehicle program and an autonomous auto project, two things eating away at Ford's profit margins in the short-term despite lucrative pickup and SUV sales.

"Ford has said it expects its profits to fall in 2017 and has flagged slowing sales in the US and China-two of the world's largest auto markets", the Journal notes. If you would like to discuss another topic, look for a relevant article.

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Ford is striving to become "as lean and efficient as possible" and targeting a 10 percent reduction of salary costs and staffing in North America and Asia Pacific, the spokesman added.

Following criticism from Trump, in January Ford scrapped plans to build a $1.6 billion vehicle factory in Mexico and instead added 700 jobs in MI.

Profits for the Detroit-based automaker fell 35% during the first quarter to $1.6 billion, the first such decline in seven years. It previously forecast re-tax earnings of $9 billion, down from $10.4 billion for all of a year ago.

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Ford's global job cut unlikely to have major impact in India