Ford Plans Layoffs After $1 Billion Trump Tariff Hit

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sanfordandson
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Ford Plans Layoffs After $1 Billion Trump Tariff Hit

Post by sanfordandson » Tue Oct 09, 2018 12:53 pm

https://www.yahoo.com/news/ford-plans-l ... 34096.html
Ford Motor Company is reportedly preparing to initiate major layoffs after suffering a blow to profits of at least $1 billion due to tariffs enacted by President Donald Trump.

The nation’s largest automaker hasn’t yet revealed how many workers will be affected. But a report by Morgan Stanley estimated that as many as 12 percent of the company’s 202,000 workers worldwide could be cut, NBC reported.

Layoffs will center on Ford’s 70,000-strong white-collar workforce as part of what the company is calling a “redesign” of its staff in an ongoing $22.5 billion reorganization, according to NBC.

Trump’s tariffs and the retaliatory tariffs they triggered are taking a toll on the U.S. auto industry.

Ford CEO Jim Hackett told Bloomberg last month that tariffs on imported aluminum and steel alone dealt a blow to company profits.

“From Ford’s perspective the metals tariffs took about $1 billion in profit from us,” Hackett said. “The irony of which is we source most of that in the U.S. If it goes on any longer, it will do more damage.”

The ongoing trade war is expected to continue to hurt the company’s bottom line. Earlier this year, Trump said that “trade wars are good, and easy to win.”

Ford announced a shift earlier this year to produce almost exclusively SUVs and trucks. Those vehicles continue to grow in popularity and are more profitable.

Its only passenger car will remain the popular Mustang, but production of the iconic brand could also be hurt if profits continue to fall.

The automaker said last month that it was ditching plans to sell its new Focus crossover vehicle in the U.S. The Ford Focus Active is manufactured in China. Because of the U.S.’s new tariffs on imported cars, it’s no longer profitable for the company to sell it in America, officials said.

“This is the first of potentially many vehicles that will disappear from the U.S. market” due to the trade war, Kristin Dziczek of the Ann Arbor, Michigan-based Center for Automotive Research warned.

mitch
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Re: Ford Plans Layoffs After $1 Billion Trump Tariff Hit

Post by mitch » Tue Oct 09, 2018 1:33 pm

sanfordandson wrote:
Tue Oct 09, 2018 12:53 pm
https://www.yahoo.com/news/ford-plans-l ... 34096.html
Ford Motor Company is reportedly preparing to initiate major layoffs after suffering a blow to profits of at least $1 billion due to tariffs enacted by President Donald Trump.

The nation’s largest automaker hasn’t yet revealed how many workers will be affected. But a report by Morgan Stanley estimated that as many as 12 percent of the company’s 202,000 workers worldwide could be cut, NBC reported.

Layoffs will center on Ford’s 70,000-strong white-collar workforce as part of what the company is calling a “redesign” of its staff in an ongoing $22.5 billion reorganization, according to NBC.

Trump’s tariffs and the retaliatory tariffs they triggered are taking a toll on the U.S. auto industry.

Ford CEO Jim Hackett told Bloomberg last month that tariffs on imported aluminum and steel alone dealt a blow to company profits.

“From Ford’s perspective the metals tariffs took about $1 billion in profit from us,” Hackett said. “The irony of which is we source most of that in the U.S. If it goes on any longer, it will do more damage.”

The ongoing trade war is expected to continue to hurt the company’s bottom line. Earlier this year, Trump said that “trade wars are good, and easy to win.”

Ford announced a shift earlier this year to produce almost exclusively SUVs and trucks. Those vehicles continue to grow in popularity and are more profitable.

Its only passenger car will remain the popular Mustang, but production of the iconic brand could also be hurt if profits continue to fall.

The automaker said last month that it was ditching plans to sell its new Focus crossover vehicle in the U.S. The Ford Focus Active is manufactured in China. Because of the U.S.’s new tariffs on imported cars, it’s no longer profitable for the company to sell it in America, officials said.

“This is the first of potentially many vehicles that will disappear from the U.S. market” due to the trade war, Kristin Dziczek of the Ann Arbor, Michigan-based Center for Automotive Research warned.
Maybe ole Jim should take a pay cut

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Re: Ford Plans Layoffs After $1 Billion Trump Tariff Hit

Post by RevTheory » Tue Oct 09, 2018 1:38 pm

Yeah, yeah, yeah... Harley tried to blame Trump for them "having" to produce overseas and that lie quickly fell apart.

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Re: Ford Plans Layoffs After $1 Billion Trump Tariff Hit

Post by j-c-c » Tue Oct 09, 2018 2:36 pm

" Earlier this year, Trump said that “trade wars are good, and easy to win.”

Well that's good enough for me, I'm convinced, MAGA, screw OB, let's win this race to the bottom. BOOM! =D>

:roll:

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Re: Ford Plans Layoffs After $1 Billion Trump Tariff Hit

Post by exhaustgases » Tue Oct 09, 2018 5:43 pm

Maybe if they started to build something the right way then they could stay. Build a $20k version of the GT40 and they will sell like hot cakes.
Quit building crap aluminum trucks you know that sort of thing.
Stop the monkey see monkey do pimple roof cars and try something revolutionary, like STYLING.

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Re: Ford Plans Layoffs After $1 Billion Trump Tariff Hit

Post by lefty o » Tue Oct 09, 2018 5:49 pm

let me get this straight, they state they source most of the steel from here in the US, if so how in the hell can they blame the tariffs on it. thats full on retarded! sounds like a political ploy, because if it wasnt they would claim that the tariffs cause an increase of prices on their electronics or something else. sit here and tell me that you source metals in the US, but then claim the tariffs on metals cost you 1 billion dollars. 1+1 isnt adding up to 2 for some reason. #-o

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Re: Ford Plans Layoffs After $1 Billion Trump Tariff Hit

Post by exhaustgases » Tue Oct 09, 2018 6:03 pm

lefty o wrote:
Tue Oct 09, 2018 5:49 pm
let me get this straight, they state they source most of the steel from here in the US, if so how in the hell can they blame the tariffs on it. thats full on retarded! sounds like a political ploy, because if it wasnt they would claim that the tariffs cause an increase of prices on their electronics or something else. sit here and tell me that you source metals in the US, but then claim the tariffs on metals cost you 1 billion dollars. 1+1 isnt adding up to 2 for some reason. #-o
Its because of what I said above, they build crap. And now we all relate it to FORD you know the Kavanaugh deal.

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Re: Ford Plans Layoffs After $1 Billion Trump Tariff Hit

Post by lefty o » Tue Oct 09, 2018 7:09 pm

exhaustgases wrote:
Tue Oct 09, 2018 6:03 pm
lefty o wrote:
Tue Oct 09, 2018 5:49 pm
let me get this straight, they state they source most of the steel from here in the US, if so how in the hell can they blame the tariffs on it. thats full on retarded! sounds like a political ploy, because if it wasnt they would claim that the tariffs cause an increase of prices on their electronics or something else. sit here and tell me that you source metals in the US, but then claim the tariffs on metals cost you 1 billion dollars. 1+1 isnt adding up to 2 for some reason. #-o
Its because of what I said above, they build crap. And now we all relate it to FORD you know the Kavanaugh deal.
i dont see that this and the kavanaugh deal are intertwined.

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Re: Ford Plans Layoffs After $1 Billion Trump Tariff Hit

Post by exhaustgases » Tue Oct 09, 2018 8:43 pm

lefty o wrote:
Tue Oct 09, 2018 7:09 pm
exhaustgases wrote:
Tue Oct 09, 2018 6:03 pm
lefty o wrote:
Tue Oct 09, 2018 5:49 pm
let me get this straight, they state they source most of the steel from here in the US, if so how in the hell can they blame the tariffs on it. thats full on retarded! sounds like a political ploy, because if it wasnt they would claim that the tariffs cause an increase of prices on their electronics or something else. sit here and tell me that you source metals in the US, but then claim the tariffs on metals cost you 1 billion dollars. 1+1 isnt adding up to 2 for some reason. #-o
Its because of what I said above, they build crap. And now we all relate it to FORD you know the Kavanaugh deal.
i dont see that this and the kavanaugh deal are intertwined.
Christine B FORD <--------------FORD,,,,,, FORD <---- Some folks may not like that name now. Would you buy a car named Hillary?

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Re: Ford Plans Layoffs After $1 Billion Trump Tariff Hit

Post by lefty o » Tue Oct 09, 2018 9:01 pm

exhaustgases wrote:
Tue Oct 09, 2018 8:43 pm
lefty o wrote:
Tue Oct 09, 2018 7:09 pm
exhaustgases wrote:
Tue Oct 09, 2018 6:03 pm


Its because of what I said above, they build crap. And now we all relate it to FORD you know the Kavanaugh deal.
i dont see that this and the kavanaugh deal are intertwined.
Christine B FORD <--------------FORD,,,,,, FORD <---- Some folks may not like that name now. Would you buy a car named Hillary?
oh pluck your head out of your rear end. #-o

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Re: Ford Plans Layoffs After $1 Billion Trump Tariff Hit

Post by exhaustgases » Tue Oct 09, 2018 10:21 pm

lefty o wrote:
Tue Oct 09, 2018 9:01 pm
exhaustgases wrote:
Tue Oct 09, 2018 8:43 pm
lefty o wrote:
Tue Oct 09, 2018 7:09 pm


i dont see that this and the kavanaugh deal are intertwined.
Christine B FORD <--------------FORD,,,,,, FORD <---- Some folks may not like that name now. Would you buy a car named Hillary?
oh pluck your head out of your rear end. #-o
You first.

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Re: Ford Plans Layoffs After $1 Billion Trump Tariff Hit

Post by lefty o » Tue Oct 09, 2018 10:30 pm

exhaustgases wrote:
Tue Oct 09, 2018 10:21 pm
lefty o wrote:
Tue Oct 09, 2018 9:01 pm
exhaustgases wrote:
Tue Oct 09, 2018 8:43 pm

Christine B FORD <--------------FORD,,,,,, FORD <---- Some folks may not like that name now. Would you buy a car named Hillary?
oh pluck your head out of your rear end. #-o
You first.
sorry, im breathing fresh air!

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Re: Ford Plans Layoffs After $1 Billion Trump Tariff Hit

Post by GRTfast » Wed Oct 10, 2018 6:16 am

exhaustgases wrote:
Tue Oct 09, 2018 8:43 pm
lefty o wrote:
Tue Oct 09, 2018 7:09 pm
exhaustgases wrote:
Tue Oct 09, 2018 6:03 pm


Its because of what I said above, they build crap. And now we all relate it to FORD you know the Kavanaugh deal.
i dont see that this and the kavanaugh deal are intertwined.
Christine B FORD <--------------FORD,,,,,, FORD <---- Some folks may not like that name now. Would you buy a car named Hillary?
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Re: Ford Plans Layoffs After $1 Billion Trump Tariff Hit

Post by sanfordandson » Wed Oct 10, 2018 10:44 am

GRTfast wrote:
Wed Oct 10, 2018 6:16 am
exhaustgases wrote:
Tue Oct 09, 2018 8:43 pm
lefty o wrote:
Tue Oct 09, 2018 7:09 pm


i dont see that this and the kavanaugh deal are intertwined.
Christine B FORD <--------------FORD,,,,,, FORD <---- Some folks may not like that name now. Would you buy a car named Hillary?
its fun to watch these clowns..... :lol:

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Re: Ford Plans Layoffs After $1 Billion Trump Tariff Hit

Post by j-c-c » Wed Oct 10, 2018 10:48 am

lefty o wrote:
Tue Oct 09, 2018 9:01 pm
exhaustgases wrote:
Tue Oct 09, 2018 8:43 pm
lefty o wrote:
Tue Oct 09, 2018 7:09 pm


i dont see that this and the kavanaugh deal are intertwined.
Christine B FORD <--------------FORD,,,,,, FORD <---- Some folks may not like that name now. Would you buy a car named Hillary?
oh pluck your head out of your rear end. #-o
:lol: :lol:

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