News
Ford Is Preparing To Sack 10% Of Its Workforce (20,000 Workers)
Due to lower profits and falling share price, shareholders are mounting pressure requesting for cost cut.. as usual, the staff are the first to be affected.
As announced by Wall Street Journal on Monday, Ford is now making plans to reduce its worldwide workforce by 10%.. which means about 20,000 job cut. According to Reuters, most of those to be affected are salary earners who do not have union protection as against the hourly staff who work at the assembly plant.
Recently, the Ford mentioned that they intend to reduce costs by $3billion in order to invest in new opportunities like electric and self-driving cars. They definitely have to stay competitive as Tesla is giving them a run for their money.
