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Thursday, May 18, 2017

How Is This Not A Recession? Ford To Slash 10% Of Global Workforce

Having admitted in March that "used car prices will drop for years" and amid near-record inventories, a so-called 'plateau' in car sales, and soaring auto-loan losses, WSJ is reporting that Ford is planning substantial cuts to its global workforce amid CEO Mark Fields’s drive to boost profits and address the auto maker’s sliding stock price, according to people briefed on the plan.

With near record high inventories of 3.9 million vehicles...

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3 comments:

Anonymous said...

Its a FORD....LOWER THE RIDICULOUS PRICES, give a small potion of those profits back to the car buyers!!! Not all of it....just a portion....

Anonymous said...

LoL when a top notch truck costs as much as a mortgage no wonder. We dont need all the crap they are packing into automobiles, and its not just Ford. Cars were made so we didnt have to walk, and we didnt have to ride horses. It doesnt mean the damn thing should serve you coffee, pat your bottom and kiss you goodnight. Its to get from A to B and be halfway tolerable doing it. People are so out of touch with reality its disheartening.

Anonymous said...

Or you are so old that the future has passed you by. Ford is having problems selling vehicles because the market is flooded due to sub-prime lending on new vehicles. To maintain a profit and shareholder value, they will cut costs - reduce workforce. Simple economics.