Ford Plans to Slash Global Workforce by 10 Percent: Report | NBC 10 Philadelphia
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Ford Plans to Slash Global Workforce by 10 Percent: Report

Investors are concerned that U.S. sales are peaking and Ford's market share is slipping

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    NEWSLETTERS

    Ford Motor Co. is planning substantial job cuts in order to boost profits and raise its stock price, according to the Wall Street Journal.

    (Published Tuesday, May 16, 2017)

    The Wall Street Journal reports that Ford Motor Co. is planning substantial job cuts in order to boost profits and raise its stock price.

    The newspaper says the cuts would target salaried employees and would reduce Ford's global headcount by an equivalent of 10 percent.

    Ford didn't confirm the report Monday night.

    In a statement, the company said it's focused on reducing costs and improving efficiency. But Ford said it hasn't announced any job cuts and won't comment on speculation.

    Man Hit By Bus, Flung Across Sidewalk Walks Away

    [NATL] Man Hit By Bus, Flung Across Sidewalk Walks Away

    A bus in Reading, England, swerved around a corner and hit a pedestrian on June 24, sending the man sliding across the pavement. The man stood up and walked into the Purple Turtle pub without major injuries.

    (Published Wednesday, June 28, 2017)

    Investors are concerned that U.S. sales are peaking and Ford's market share is slipping.

    Ford's shares have lost more than a third of their value since Mark Fields became CEO in 2014. Electric car maker Tesla Inc. recently surpassed Ford in market value even though it sells far fewer vehicles.