Tags: ford | motor | cuts | workforce | 10 | percent

WSJ: Ford Motor to Slash Workforce by 10 Percent

Image: WSJ: Ford Motor to Slash Workforce by 10 Percent

Monday, 15 May 2017 09:48 PM

Ford Motor Co. plans to cut about 10 percent of staff worldwide as Chief Executive Officer Mark Fields faces pressure to improve profit and boost the automaker’s lagging stock price, the Wall Street Journal reported.

The job cuts are expected to be outlined as early as this week and mostly target salaried employees, the newspaper said, citing unidentified people briefed on the plan. It’s unclear if hourly factory workers are included, the Journal said.

Ford shareholders criticized the company’s management over what one investor called the “pathetic” performance of the automaker’s shares and questioned how the board can continue to support Fields, who’s been CEO since July 2014. Ford’s board scheduled extra meeting time ahead of last week’s annual meeting to press him on his plans for reversing the company’s fortunes, a person familiar with the discussions said.

“We have not announced any new people efficiency actions, nor do we comment on speculation,” Ford said in an emailed statement.

© 2017 Thomson/Reuters. All rights reserved.

 
1Like our page
2Share
Newsfront
Ford Motor Co is set to cut about 10 percent of its global employee headcount in an effort to boost profit and its sliding stock price, the Wall Street Journal reported on Monday.The job cuts, expected to be revealed as early as this week, would largely target salaried...
ford, motor, cuts, workforce, 10, percent
159
2017-48-15
Monday, 15 May 2017 09:48 PM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
America's News Page
© Newsmax Media, Inc.
All Rights Reserved