Ford Plans Layoffs After $1 Billion Trump Tariff Hit

This is an Admin / Moderator NO GO ZONE. You're on your own.

Moderator: Team

exhaustgases
Guru
Guru
Posts: 4015
Joined: Sun Oct 06, 2013 9:03 pm

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

Post by exhaustgases » Wed Oct 10, 2018 2:02 pm

Or maybe Ford is thinking the demonrats will soon take over and getting ready for the coming depression?

Kenova
Pro
Pro
Posts: 461
Joined: Wed Sep 01, 2010 9:05 pm
Location: Ontario, Can.

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

Post by Kenova » Wed Oct 10, 2018 2:09 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
When the tariffs took hold all of the domestic producers of steel and aluminum jacked up their prices, thereby increasing the cost to the auto manufacturers.
Same thing happened when heavy tariffs were slapped on Canadian lumber. US lumber companies jacked up their prices.

Ken
Over the hill but still learning!
Retaining it is the hard part.

gmrocket
Guru
Guru
Posts: 2359
Joined: Wed Nov 12, 2008 6:40 pm
Location: Grimsby Ontario

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

Post by gmrocket » Wed Oct 10, 2018 4:11 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.
so isnt all that a good thing? after all corporations that big are all bad and nasty thieves.

sounds like a win for the lefties...hit the evil corporations hard on the profits, try to put them out of business as quick as possible...remember, "you didnt build that"

win win

F-BIRD'88
Guru
Guru
Posts: 6332
Joined: Tue Mar 27, 2007 6:56 pm
Location: Ontario, Canada

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

Post by F-BIRD'88 » Wed Oct 10, 2018 4:21 pm

Tarrifs on "foriegn" steel, aluminum and softeood. Like from Canada cause all steel, aluminum and wood, including USA domestic to INCREASE in cost. US made stuff like houses ,cars and more will (already are) get more expensive to make and buy.
This is just the beginning of the Trump economic CRASH. I predicted this Ford big layoff coming a good ehile ago, as soon as Trump threatened Canada with tarrifs. GM, Chrysler, Toyoto etc will follow.
Ttump hss been riding on the coat tale of the Obama recover, and claiming it as his own doing.

Still winning?

Brian P
Guru
Guru
Posts: 1424
Joined: Wed Jan 02, 2008 7:35 pm
Location: Toronto, Ontario, Canada

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

Post by Brian P » Wed Oct 10, 2018 4:40 pm

I can state that the attitude of business in general towards the current US administration, which is considered to be unpredictable and untrustworthy, is "business as usual until we can't", and our business is no different. You can't predict the unpredictable, nor can you predict what an untrustworthy organisation is going to do, so you forge on ahead in the hope that eventually, somehow, we come out the other side of this.

The failure of the steel and aluminium tariffs to be removed as part of the reworked trade deal is incomprehensible and disappointing.

The general opinion here is that at least as far as Canada and Mexico are concerned, those tariffs were illegally applied (should have been covered by nafta ... which is still in effect!!).

We are seeing a significant slowdown in the last couple of months. Personally I am ok with that, I need a vacation.

sanfordandson
Guru
Guru
Posts: 5946
Joined: Sat May 20, 2006 6:28 pm

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

Post by sanfordandson » Wed Oct 10, 2018 4:51 pm

gmrocket wrote:
Wed Oct 10, 2018 4:11 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.
so isnt all that a good thing? after all corporations that big are all bad and nasty thieves.

sounds like a win for the lefties...hit the evil corporations hard on the profits, try to put them out of business as quick as possible...remember, "you didnt build that"

win win
Loss of jobs and higher costs for products the company produces is a big loss for America. Way to go trump....

gmrocket
Guru
Guru
Posts: 2359
Joined: Wed Nov 12, 2008 6:40 pm
Location: Grimsby Ontario

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

Post by gmrocket » Wed Oct 10, 2018 5:19 pm

sanfordandson wrote:
Wed Oct 10, 2018 4:51 pm
gmrocket wrote:
Wed Oct 10, 2018 4:11 pm
so isnt all that a good thing? after all corporations that big are all bad and nasty thieves.

sounds like a win for the lefties...hit the evil corporations hard on the profits, try to put them out of business as quick as possible...remember, "you didnt build that"

win win
Loss of jobs and higher costs for products the company produces is a big loss for America. Way to go trump....
yup, sounds like a well worked out lefty plan. still dont understand why you think its bad?

this would be hailed as great policy under obumbum....nail those corrupt thieving, successful corporations making huge profits.

you have to make up your mind, your for big business being successful, or not.

sanfordandson
Guru
Guru
Posts: 5946
Joined: Sat May 20, 2006 6:28 pm

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

Post by sanfordandson » Wed Oct 10, 2018 5:50 pm

gmrocket wrote:
Wed Oct 10, 2018 5:19 pm
yup, sounds like a well worked out lefty plan.
I agree. I've said all along that trump is a New York Democrat at his core. Its starting to show now.

1989TransAm
Guru
Guru
Posts: 9220
Joined: Thu Feb 15, 2007 8:43 pm
Location: Cypress, California

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

Post by 1989TransAm » Wed Oct 10, 2018 6:04 pm

F-BIRD'88 wrote:
Wed Oct 10, 2018 4:21 pm
.Ttump hss been riding on the coat tale of the Obama recover, and claiming it as his own doing.
Still winning?
That is so ludicrous and pathetic. Obama did not know his a$$ from a hole in the ground.

F-BIRD'88
Guru
Guru
Posts: 6332
Joined: Tue Mar 27, 2007 6:56 pm
Location: Ontario, Canada

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

Post by F-BIRD'88 » Wed Oct 10, 2018 6:29 pm

Clueless. Obama put in the policies that led to the confidence in the market returning so the economy could recover... Not to mention bailing out GM and Chrysler (along with Canada too). Nice way to treat a ally and best trade partner. Nice way to treat a corporation that is essentual to the US economy and ACTUALY CREATES (YOUR) JOBS AND PAYS TAXES...Trump is the clueless one .
Bankrupt what some 6 times.
Good con man tho. You being one of many who has drank the koolaid.

Firedome8
Guru
Guru
Posts: 3912
Joined: Wed Sep 21, 2016 6:16 pm

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

Post by Firedome8 » Wed Oct 10, 2018 7:16 pm

F-BIRD'88 wrote:
Wed Oct 10, 2018 6:29 pm
Clueless. Obama put in the policies that led to the confidence in the market returning so the economy could recover... Not to mention bailing out GM and Chrysler (along with Canada too). Nice way to treat a ally and best trade partner. Nice way to treat a corporation that is essentual to the US economy and ACTUALY CREATES (YOUR) JOBS AND PAYS TAXES...Trump is the clueless one .
Bankrupt what some 6 times.
Good con man tho. You being one of many who has drank the koolaid.
Agreed.

1989TransAm
Guru
Guru
Posts: 9220
Joined: Thu Feb 15, 2007 8:43 pm
Location: Cypress, California

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

Post by 1989TransAm » Wed Oct 10, 2018 7:17 pm

What policies were they? He was destroying our steel and aluminum industries. He was killing our mining industries with coal being hit the hardest. He was regulating this country to death. I see you are from Canada you poor little snowflake. :D

gmrocket
Guru
Guru
Posts: 2359
Joined: Wed Nov 12, 2008 6:40 pm
Location: Grimsby Ontario

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

Post by gmrocket » Wed Oct 10, 2018 7:27 pm

1989TransAm wrote:
Wed Oct 10, 2018 7:17 pm
What policies were they? He was destroying our steel and aluminum industries. He was killing our mining industries with coal being hit the hardest. He was regulating this country to death. I see you are from Canada you poor little snowflake. :D
the idiots who think this is all obamas doing were also saying the markets would crash if trump got elected...all the experts were on board and in a panic! but it was just the opposite that happened..

dumb shyts cant even get their crazy azz guesses and lies correct.

those who are yapping probably dont have a pot to piss in, but they are internet financial experts...so funny

i heard they are also giving obama credit for ending slavery, the great depression and the plague.

gmrocket
Guru
Guru
Posts: 2359
Joined: Wed Nov 12, 2008 6:40 pm
Location: Grimsby Ontario

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

Post by gmrocket » Wed Oct 10, 2018 7:32 pm

1989TransAm wrote:
Wed Oct 10, 2018 7:17 pm
What policies were they? He was destroying our steel and aluminum industries. He was killing our mining industries with coal being hit the hardest. He was regulating this country to death. I see you are from Canada you poor little snowflake. :D
he doesnt even know that we now have our own trump in doug ford...he is fixing the liberal mess after 15 years of liberal craziness..he is doing it with lighting speed. in the first 100 days, carbon tax gone, windmill contracts halted, emissions test gone, taxes lowered, deregulating everything, 750 different green energy contracts shut down....many many more. its like paradise here now

he was on here all excited about our "donald" ending the emissions test...

here in canada, trump is really hated with a passion...for no good reason, just because its the sheep doing the cool thing the left wing media talks about. meanwhile, our buffoon, justin, is 10 times the jerk trump is made out to be.

you want a good laugh? google justin trudeau blunders

RevTheory
Guru
Guru
Posts: 4981
Joined: Thu Sep 04, 2014 6:45 am

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

Post by RevTheory » Wed Oct 10, 2018 7:58 pm

I'm glad Canada has seen the light and is making improvements. That sounds like a guy Trump could really strike a good deal with =D>

Post Reply