Hiptoro
  • Entertainment
    • Celebrities
  • Sports
    • NBA
    • WWE
    • NFL
  • Movies
  • TV Shows
  • Anime
  • Gaming
  • Technology
No Result
View All Result
  • Entertainment
    • Celebrities
  • Sports
    • NBA
    • WWE
    • NFL
  • Movies
  • TV Shows
  • Anime
  • Gaming
  • Technology
No Result
View All Result
Hiptoro
No Result
View All Result

Ford Job Cuts: Here’s Why Ford is Firing Thousands of its Employees

by Ketakee Srivastava
6 years ago
in Business, News
Reading Time: 2 mins read
0

Recently Ford has made an announcement that the company will be cutting down about thousands of its jobs.

Outline
  • The Strategy apart from the Job Cuts
  • Performance of company in European market

This will be because of the restructuring plan of the company so as to overhaul the European operations of the company.

The Strategy apart from the Job Cuts

The company also said that the new strategy will cost it around $11 billion. The new strategy will take place for the upcoming three to five years.

Apart from the job cuts, the company will also be ending the production of certain models of the vehicles which are currently unprofitable along with the closure of a plant in France.

Ford is also talking to the unions regarding the ceasing of the production of the C-Max model of the compact car.

This will be at the factory located in Germany. There will also be a reviewing of the markets which are struggling. This best example of this is Russia.

Ford has made an announcement that the company will be cutting down about thousands of its jobs
Source: TT News

Performance of company in European market

According to the reports of CNN, in the United States, Ford has very strong sales along with great profitability. However the Ford lags behind its competitors in China and is also struggling in the markets of Europe as well as Latin America.

The company recorded only loses which were worth $199 million in the first nine months of the previous year. This was in Europe which was opposite to the profit of $278 million which the company had incurred in the same period, the previous year.

For the year 2018, Ford had projected its fiscal loss for that region.

According to the reports of CNN, there is even speculation in the market that Volkswagen is looking to partner with Ford. This is for the development of autonomous cars along with the technology that is related.

there is even speculation in the market that Volkswagen is looking to partner with Ford
Source: Wsj

Volkswagen is the largest manufacturer of cars in the world and the company also has a very strong presence when it comes to the markets of Europe

The two companies have confirmed only a commercial venture of vehicle that they will be doing together until today.

Ford currently has about 53,000 employees in Europe along with two engine plants that are located in the United Kingdom.

Source: IB Times, Business Insider

Tags: EuropeFordJob CutUnited StatesVolkswagen

TRENDING NOW

Shubhanshu Shukla

Who is Shubhanshu Shukla? All About the Axiom Mission 4 Astronaut

June 27, 2025
Peggy Annette Whitson

Peggy Annette Whitson: Who Is The Only Female Astronaut In Axiom Mission 4?

June 27, 2025
Dierks Bentley

Dierks Bentley’s Bio: Age, Early Life, Career, Net Worth

June 21, 2025
Jordon Hudson

Who is Jordon Hudson? Meet Bill Belichick’s 24-Yr-Old Girlfriend

June 21, 2025
Greg Grunberg

Greg Grunberg’s Wiki: Age, Bio, Career, Net Worth

June 21, 2025
Layla Taylor

Who is Layla Taylor? All About ‘The Secret Lives of Mormon Wives’ Star

June 21, 2025
hiptoro logo
  • Contact Us
  • Disclaimer
  • Copyright
  • About Us
  • Write for Us
  • Ethics Policy
  • Fact Checking Policy
  • Terms and Conditions
  • Privacy Policy


© 2023 Hiptoro Private Limited.

No Result
View All Result
  • Entertainment
    • Celebrities
  • Sports
    • NBA
    • WWE
    • NFL
  • Movies
  • TV Shows
  • Anime
  • Gaming
  • Technology