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Ford to Cut 1,400 Jobs as Part of Major Cost-Cutting Push

by on May.17, 2017

The new job cuts won't directly impact Ford's hourly workers - but they have been facing a series of temporary plant closures in recent months.

Ford Motor Co. has revealed plans to cut about 1,400 salaried jobs in North America and Asia as part of a cost-cutting plan, but the move is significantly smaller than had been suggested by some news reports earlier in the week.

The move comes as Ford struggles to boost sales and earnings after a sharp slump in recent months. The second-largest automaker has also been trying to boost its stock price, which has tumbled about 40% since Mark Fields became CEO nearly three years ago. But the initial response by investors is proving lackluster.

In the News!

“We remain focused on the three strategic priorities that will create value and drive profitable growth, which include fortifying the profit pillars in our core business, transforming traditionally underperforming areas of our core business and investing aggressively, but prudently, in emerging opportunities,” Ford said in a statement early Wednesday, updating comments the maker had released earlier in the week.

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Ford May Cut 10% of Global Workforce

Detroit maker responding to weak profits, stockholder pressure.

by on May.16, 2017

Ford CEO Mark Fields has come under increasing pressure to boost sales and earnings.

Under increasing pressure from stockholders as sales and profits decline, Ford Motor Co. is reportedly looking at cost cuts that could include the elimination of as much as 10% of its global workforce, sources tell TheDetroitBureau.com, confirming news reports that have been emerging overnight.

With a current workforce of around 200,000 employees worldwide, that means Ford could trim as many as 20,000 jobs, a large share of those apparently in the U.S. and Asia, though the final figure could be smaller. Other measures are designed to rein in spending and reverse the sharp, 35% drop in earnings Ford suffered during the first quarter of this year – triggering widespread criticism of the carmaker’s management by analysts and investors.

Breaking News!

In a statement, Ford declined to directly address the reported job cuts, but noted, “We remain focused on the three strategic priorities that will create value and drive profitable growth, which include fortifying the profit pillars in our core business, transforming traditionally underperforming areas of our core business and investing aggressively, but prudently, in emerging opportunities.”

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Ford Wants to Boost White-Collar Hiring by 36% – But Struggles to Find the Talent

Maker turns to Silicon Valley for qualified electronic engineers.

by on Jul.23, 2013

Ford has plenty of jobs open. Now it needs to find the right candidates - but that isn't as easy as in the past.

Ford Motor Co. hopes to hire about 3,000 engineers and other professionals this year a third more than originally planned — but standing conventional wisdom on its head, the Detroit maker is finding it difficult to come up with enough ready, willing and able white-collar workers to fill all those spots.

And it’s not alone.  Cross-town rivals General Motors and Chrysler have been trying to re-fill their own employee ranks decimated by cutbacks during the Great Recession, as have scores of automotive suppliers.  But a surprising number of those slots remain open for lack of qualified talent.

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“It’s much more difficult getting the right people” than it was in decades past, laments Felicia Fields, group vice president of Human Resources for Ford, reflecting a shift in “the type of people” the automaker needs in an era when high technology systems have become as much a part of today’s vehicles as traditional, mechanical devices.

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