Ford to lay off 24,000. Temporary stop of production at Claycomo, MO plant near KC
 

Ford is having a bad year in 2018. Its stock is down 29%, and the tariffs imposed by President Trump have reportedly cost the company $1 billion, as the company is in the midst of a reorganization. Now, the company is announcing layoffs.

Jim Hackett, Ford’s CEO, is working to engineer a $25.5 billion restructuring of the automaker, hoping to cut costs and remain competitive, the Wall Street Journal reports. But auto sales are down, and one reason is the trade tariffs that Trump has imposed on metals and other goods. According to Bloomberg, Hackett has said they have already cost the company $1 billion in profit and could do “more damage” if the disputes aren’t resolved quickly.

Ford, the No. 2 U.S. automaker by sales, is making aggressive job cuts as part of that reorganization, NBC News reported. While the company hasn’t said how many jobs will be lost, a report from Morgan Stanley estimates “a global headcount reduction of approximately 12 percent,” or 24,000 of Ford’s 202,000 workers worldwide.”

While reports have indicated that the job cuts are likely to come early next year, The Kansas City Star reported Tuesday that Ford has temporarily halted production of transit vans in Claycomo, Mo. The move is intended to prevent a build-up in Ford’s inventories of the vans, but it will leave 2,000 workers idle between Oct. 22 and Nov. 4.

Despite news of the layoffs, Ford’s stock closed down 3.4% Tuesday.

At a time when automakers are scrambling to prepare for self-driving cars, Ford is also struggling to keep pace with the rest of the industry. September was a bad month for U.S. auto sales—with aggregate sales down 7%—but Ford’s drop off was even more severe. Ford said its sales of its vehicles declined 11.2% last month, with sales of its best-selling F-Series pickup trucks down 9%.

U.S. carmakers are notoriously bad at marketing. I really try to by American products, but cars are never that appealing to me. I have owned one U.S. made car, and that was a Jeep.

I drove by the old Woodlands last week and I thought I saw a bunch of those Transit vans parked there. Does anyone know if that's the case?

that's just where all the kidnappers congregate.

At best....misleading thread title.

Nuk, nuk, nuk ROFL

How do you figure?

thank u daddy turmp

Damn best seller is the f series truck they be screwed , as that's the biggest pile shit truck going. I'd drive a dodge before a ford

Work at the plant. That Transit layoff has been in the books for a long time. Nothing to do with the salary side job cuts.

The bulk of the 202K layoffs worldwide are management employees. Middle managers and other white collar jobs. Not factory workers.

That's a YOU problem. Their marketing is fine. The cars are as good as they've ever been.

Well, it kind of implies Claycomo is going to be shuttered. Probably ought to say "to temporarily stop"

Off to the DC in 3.......2.......1....

Shouldn't be moved.