Ford to cut 7,000 jobs as part of company-wide 'redesign'
Source: Washington Post
Business
Ford to cut 7,000 jobs as part of company-wide ‘redesign’
By Rachel Siegel
May 20 at 9:33 AM
Ford Motor Co. will cut roughly 10 percent of its global salaried staff by August as part of a company-wide “redesign.” The move will eliminate 7,000 white-collar jobs and save the company about $600 million annually.
“"We will continue to work collaboratively and respectfully with our teams and other partners to ensure our designs are effective and fit and that our employees are treated fairly and with respect,” the company said in a memo to employees obtained by The Detroit News.
Hundreds of affected employees in North America will be notified starting Tuesday, according to the News. Ford is also looking to restructure its ranks globally, including in Europe, China and South America.
The 7,000 jobs include salaried employees who took buyouts offered in the past year, as well as jobs that were never filled and later eliminated. About 20 percent of the eliminated positions were senior-level management jobs, the News reported. Some contract employees in the U.S. will also be let go as part of the cuts.
CEO Jim Hackett and other executives have said Ford would be trimming its management and costs. Hackett told employees that managers would have more direct reports to cut down bureaucracy. ... Ford is not alone. General Motors has laid off roughly 4,500 workers since early 2017.
This is a developing story and will be updated.
Read more: https://www.washingtonpost.com/business/2019/05/20/ford-cut-jobs-part-company-wide-redesign/
= new reply since forum marked as read
Someday, companies like Ford may be ran completely by one guy working from home on a laptop and Amazon will handle all sales, logistics and shipping. That might be perfectly acceptable to Wall Street.
Just how far can the drive to achieve ultimate efficiency go?.......
