Morgan Stanley predicts Ford to cut 25,000 jobs in overhaul

[dalton99a]

http://www.autonews.com/article/20181203/OEM01/181209926/ford-job-cuts-predicted

Morgan Stanley predicts Ford to cut 25,000 jobs in overhaul
December 3, 2018 @ 1:12 pm
Keith Naughton
Blooomberg

DETROIT -- Ford Motor Co.’s $11 billion restructuring could cost 25,000 employees their jobs, exceeding the cutbacks General Motors announced last week, according to Morgan Stanley.

Ford has yet to detail its job cuts, but Morgan Stanley analyst Adam Jonas predicts they could be larger than GM’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 (Canadian union) workers.”

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.

[ProudMNDemocrat]

1. The US is on its way to manufacturing little to nothing at all.....

And we can thank Trump and the Republicans for it.

[TheBlackAdder]

4. When only a few have the money, off-shored and tax-dodged, folks are forced to buy on the cheap.

[Wellstone ruled]

2. Ford let it be known more than a week ago

they were dropping 8k Salaried head count in the Management ranks as well as 4k hourly before years end. and next year a full 10% across the board. Believe Ford's head count is 240k . Remember,GM is dumping like numbers at the same time. BTW Adam Jonas continues to do a hack job on Ford for Morgan Stanley. His continuous bogus Analysis has caused Ford to shed at least 50% of it's stock value in the past year plus.

[Yo_Mama_Been_Loggin]

3. Kick