Ford Plans to Slash Global Workforce by 10 Percent: Report - NBC 6 South Florida
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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.

    13 Civilians, 5 Suspects Dead in Separate Events in Spain

    [NATL] 13 Killed in Car Attack in Barcelona; 5 Suspects Killed in Separate Incident in Cambrills

    A white van jumped the sidewalk in Barcelona’s Las Ramblas district on Aug. 17, 2017. Police say 13 people have been killed and more than 100 injured in this terrorist attack. The area is one of the city’s top tourist destinations. Later, police shot and killed five terror suspects in Cambrils, Spain, in a separate incident.

    (Published 15 minutes ago)

    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.