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Tue Dec 4, 2018, 05:11 PM

Ford To Cut 25,000 Jobs With Europe In Firing Line, Morgan Stanley Predicts


Keith Naughton
Blooomberg

December 3, 2018 19:12 CET
DETROIT -- Ford's $11 billion restructuring could cost 25,000 employees their jobs, with Europe bearing the brunt of the cuts, according to Morgan Stanley.

Ford has yet to detail its job cuts, but Morgan Stanley analyst Adam Jonas predicts they could be larger than General Motor’s in a note to investors.

"We estimate a large portion of Ford’s restructuring actions will be focused on Ford Europe, a business we currently value at negative $7 billion," Jonas wrote. "But we also expect a significant restructuring effort in North America, involving significant numbers of both salaried and hourly UAW and CAW workers."

In September, Ford denied a Sunday Times report that the automaker is likely to end production of the Mondeo, Galaxy and S-Max minivans in Europe favor of more profitable crossovers and SUVs. The paper also said Ford may also cut its amount of dealerships.

Ford’s 70,000 salaried employees have been told they face unspecified job losses by the middle of next year as the automaker works through an "organizational redesign" aimed at creating a white-collar workforce “designed for speed,” according to Karen Hampton, a spokeswoman.

MOre...

http://europe.autonews.com/article/20181203/COPY/312039865?template=mobile02&X-IgnoreUserAgent=1

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Reply Ford To Cut 25,000 Jobs With Europe In Firing Line, Morgan Stanley Predicts (Original post)
RCW2014 Dec 4 OP
uncledad Dec 4 #1
RCW2014 Dec 4 #2

Response to RCW2014 (Original post)

Tue Dec 4, 2018, 06:35 PM

1. Could they design a wall ?

Asking for a friend...........

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Response to uncledad (Reply #1)

Tue Dec 4, 2018, 06:58 PM

2. Could trigger some. Henry Ford did have an interesting politic, indeed!

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