Friday, October 12, 2018

Ford Prepares Mass Layoffs After Losing $1 Billion Because of Trump's Trade War

The tariffs imposed by President Trump have reportedly cost Ford $1 billion, reports Fortune. Now, the company is announcing layoffs.

Jim Hackett, Ford’s CEO, is working t on 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.”


  1. Looks like more of Trump's vision of "Making America Great Again"....

    What a moron...

  2. But that's world wide.. How many American ones? Or is Ford just playing chicken?

  3. Tariffs are bad mmkay, but sounds like Ford is asking for a hand out. Car sales are down because the car buying bubble is coming to an end.