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Ford to Restructure; Analyst Sees Big Cuts

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December 5, 2018 by   Leave a Comment

General Motors has already announced plant closings and big job cuts. Ford could be next.

CNN Business reported that Ford said this summer that it was planning to radically reshape its business, and could close or scale back unprofitable operations in some regions. It said it would spend up to $11 billion on the transformation.
 
The company has revealed little detail about its plans. Adam Jonas, the auto analyst at Morgan Stanley, said he believes Ford is preparing to slash 25,000 jobs worldwide. He expects that most of the cuts will be in Europe, where Ford has long struggled, but he said North American plants and workers won’t be spared.
 
Like GM, Ford is reinventing itself to compete in an industry undergoing radical change. Both GM and Ford have said they need to cut costs to invest in the next generation of vehicles, such as self-driving and electric cars.
 
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