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2023-06-28 Economy

[FoxBusiness] Ford announced a reduction in its European workforce earlier this year.s

Ford will begin another round of layoffs this week impacting jobs in the U.S. and Canada, the automaker confirmed to FOX Business on Tuesday.

While the company did not disclose how many employees would lose their jobs, Ford spokesperson T.R. Reid said the actions are related to the manufacturer’s growth plan introduced in 2021, which Ford has been increasingly implementing over the past year.

"Delivering on the plan includes adjusting staffing to match focused priorities and ambitions, while raising quality and lowering costs," he added. "What we’re doing this week in the U.S. and Canada is mostly, but not only, related to engineering roles. People affected by the changes will be offered severance pay, benefits and significant help to find new career opportunities."

In May, the Detroit manufacturer said it anticipated restructuring charges between $1.5 billion and $2 billion over 2023.

Earlier this year, the automaker announced it was beginning a 3,800-person reduction in its European workforce.

Amid reports of further job cuts, Ford has been hit with a string of product recalls involving millions of vehicles including trucks and SUVs with missing information in the owners’ manuals, to vehicles susceptible to engine fires, faulty seatbelts and airbags.

Despite the setbacks, the automaker reported higher truck sales in May and the exportation of the company’s signature electric F-150 Lightning pickup truck to Norway.

Meanwhile, shares of Ford are up across the board, rising roughly 22% since Jan. 1.

Posted by Skidmark 2023-06-28 09:39|| || Front Page|| [21 views ] Top

#1 White House ridiculed for defending Biden's economic record as 'incredibly popular:' 'With who?'

Posted by Skidmark 2023-06-28 09:40|| 2023-06-28 09:40|| Front Page Top

#2 As Musk has mentioned, the only two car companies that have never been bailed out are Ford and Tesla.

Of course, Tesla got its bailout up front.

Posted by M. Murcek 2023-06-28 09:46|| 2023-06-28 09:46|| Front Page Top

#3 Biden’s policies are more popular with woke corporations and some people that have benefited specific policies like the trans-mafia and/or people that are terminally liberal.

Posted by Super Hose 2023-06-28 11:12|| 2023-06-28 11:12|| Front Page Top

#4 You have to be careful about who you jump in bed with.

Posted by JohnQC 2023-06-28 11:55|| 2023-06-28 11:55|| Front Page Top

#5 Those jobs aren't going away, they're just going to Mexico.

Posted by Rex Mundi 2023-06-28 12:19|| 2023-06-28 12:19|| Front Page Top

#6 It makes sense. Someone has to not make the cars and EVs that people are not buying.

Posted by SteveS 2023-06-28 13:05|| 2023-06-28 13:05|| Front Page Top

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