Tag: layoffs

By on June 27, 2019

Back in January, Ford provided the preliminary details for its European restructuring plan. The company had been losing money there for years and didn’t want it to be remain a liability as it dumped cash into autonomous research and electric vehicle development. With aims to achieve a 6-percent operating margin within the region, the automaker’s plan to tidy up the business was put into motion.

Thus far, Ford has ceased production at three plants in Russia, cut shifts in Germany and Span (rest in peace, C-Max), and has earmarked additional facilities in France and the United Kingdom for closure. By the end of next year, the automaker expects to have cut 12,000 jobs related to its European operations.  (Find Out…)

By on May 20, 2019

Image: Ford

The steep white-collar job cuts that simmered on Ford’s back burner for a year have come into clear focus. In a letter to employees on Monday, CEO Jim Hackett announced the elimination of 7,000 salaried positions — some 10 percent of the automaker’s global workforce.

The move, part of Ford’s $11 billion restructuring plan, also calls for a 20-percent reduction in the company’s upper tier management. In the U.S., much of the pain will start being felt this week. (Find Out…)

By on May 13, 2019

Having already announced plans to cut thousands of jobs in Europe in an effort to stem the region’s ongoing cash hemorrhage, Ford has reportedly begun re-examining the United Kingdom. Initially, the automaker’s restructuring plan involved ending production at a transmission plant in France, killing the C-Max in Germany, and dissolving its Ford-Sollers joint venture in Russia.

While Ford hoped to shed as many employees as possible through voluntary retirement, it acknowledged it would have to fire at least 5,000 people in Germany and an unspecified number of U.K. citizens in March. The company hasn’t settled on a figure, though inside sources claim it should be no more than 550 jobs — all of which should be of the non-manufacturing variety.  (Find Out…)

By on March 29, 2019

FCA Windsor minivan assembly Dodge Grand Caravan 2011 - Image: FCA

Union officials in Windsor, Ontario were blindsided Thursday afternoon by Fiat Chrysler’s announcement of job cuts at the company’s minivan plant. The automaker plans to cut a third shift at the plant, home to the Dodge Grand Caravan and Chrysler Pacifica, putting 1,500 out of work.

It will be the first time the plant has operated on two shifts since the early 1990s. According to properly pissed Unifor officials, lackluster Pacifica sales may be to blame for the move. (Find Out…)

By on March 13, 2019

Image: © 2017 Matthew Guy/TTAC

Yesterday, our man Steph Willems chronicled the details of a memo obtained by The Detroit News in which Ford brass promised 2019 will be a pivotal year for the company. Amongst the revelations, CEO Jim Hackett said a job cull is the price it must pay for adding so many new employees after the recession.

That was confirmed today, with news that some salaried workers in departments such as accounting and human resources will get their walking papers later this year.

(Find Out…)

By on March 13, 2019

Volkswagen Group just announced a restructuring plan aimed at raising the company’s operating margin to 6 percent. Unfortunately, the strategy involves a staffing reduction of up to 7,000 individuals by 2023 — with the automaker saving an estimated 5.9 billion euros in the process.

While legitimate layoffs aren’t expected to take place for at least a few more years, VW claims the “automation of routine tasks” will make the jobs unnecessary, adding that the staffing cuts could be done by simply not replacing employees who take an early retirement package.  (Find Out…)

By on March 5, 2019

On Thursday, Tesla announced it will finally begin delivering the Model 3’s long-awaited base trim to the public through direct online sales. By eliminating storefronts, the automaker believes it can reduce costs — helping to get that pesky profit situation under control.

Unfortunately, reports have emerged that claim those employees had no idea their jobs were on the line. Meanwhile, the company’s share price took a hit in the wake of the announcement, causing its stock to drop significantly. Since last Thursday, more than $8 billion disappeared from Tesla’s market capitalization.  (Find Out…)

By on February 15, 2019

The Ontario government isn’t pleased with Unifor’s handling of General Motors’ decision to close Oshawa Car Assembly. Like the UAW, Canada’s autoworker union has been extremely vocal in its opposition to GM’s restructuring plan. Over the last few months Unifor members have picketed, held multiple rallies, protested the automaker during the North American International Auto Show, called for a boycott, and during the Super Bowl.

Todd Smith, Ontario’s minister of economic development, job creation and trade, believes all of this has been detrimental to future business investment. “The Unifor message hasn’t been helpful, not just for General Motors but the auto industry in Ontario,” he said during the Canada Congress in Toronto.  (Find Out…)

By on January 18, 2019

Nissan Titan Midnight Edition

Adding to company woes brought on by the Carlos Ghosn scandal, Nissan has announced plans to lay off nearly 700 contract workers at its truck and van manufacturing facility in Mississippi.

The shifts affected are responsible for making the Titan, Frontier, and NV line of vans. While Frontier sales are relatively steady, both Titan and NV numbers are down on a year-over-year basis through the end of December.

(Find Out…)

By on January 11, 2019

On Thursday, Jaguar Land Rover was reported to be in the midst of a plan that would eventually lay off roughly 10 percent of its UK workforce — roughly 4,500 employees. Considering the company has been forced to endure waning demand for sedans and just about everything with a diesel engine, a bit of restructuring was inevitable. Especially since everyone else is doing it at the moment.

However, JLR’s layoffs won’t be exclusive to Europe, as initially presumed. Despite the vast majority of its workforce residing in the United Kingdom, a small portion of its American staff will likely feel the impact, too.  (Find Out…)

By on January 10, 2019

On Thursday, Ford announced preliminary details of a plan that will ultimately erase thousands of European jobs in an attempt to return the business to profitability. The decision comes after several reports indicated the automaker’s restructuring program will be particularly hard on the region.

The plan now officially includes a slimmer product lineup, which is likely to result in the shuttering of several facilities. The manufacturer also announced a “leveraging” of existing relationships — specifically referencing a potential alliance with Volkswagen Group that would help support Ford in that market.

“We are taking decisive action to transform the Ford business in Europe,” explained Steven Armstrong, group vice president and president of Europe, Middle East and Africa. “We will invest in the vehicles, services, segments and markets that best support a long-term sustainably profitable business, creating value for all our stakeholders and delivering emotive vehicles to our customers.”

What does Ford think it needs to do to achieve a 6 percent operating margin in Europe? Read on.  (Find Out…)

By on December 13, 2018

As part of Ford’s massive restructuring plan, which is said to focus primarily on its European assets, the automaker will end assembly at its Blanquefort transmission plant in France next year. Its 850 employees will now have to find gainful employment elsewhere by August.

However, there was a brief glimmer of hope after transmission supplier Punch Powerglide (encouraged by the French government) launched a bid to purchase the facility and rescue it from being shuttered.

“Despite thorough and rigorous talks over the past nine months, and the best efforts of both sides, the plan put forward by the potential buyer presents significant risks,” Ford said in a statement. “We do not believe that the prospective buyer’s plans offer the level of security or protection, or limit the risk of possible future job losses, that we would like for the employees.”  (Find Out…)

By on December 7, 2018

Ford Europe announced it had shuffled its leadership on Friday as part of a larger restructuring plan, appointing executives in Germany and the United Kingdom to oversee “.” The strategy seeks to achieve a 6 percent EBIT (earnings before interest and taxes) margin, investing only in products and services that it believes best support long-term, sustainably and profitable business.

“Ford is implementing key leadership and organizational changes to improve the fitness and agility of its European operations as it undergoes a fundamental reset and redesign of its business,” the company said in an announcement that emphasized creating operational agility.

While the full scope of the plan has yet to be announced, layoffs and factory closings seem highly probable. Ford said announcements concerning the details of the restructuring are expected between now and the beginning of 2020. Europe is expected to be the primary focus during the initial months, however. Ford Europe lost nearly $250 million in the third quarter of 2018, significantly worse than it managed in 2017. The company now expects to see a net loss for the region this year.  (Find Out…)

By on December 6, 2018

General Motors’ restructuring plan has placed it under heavy fire. As it turns out, domestic job cuts and factory closings aren’t all that popular on Capitol Hill or in middle America, especially when a company appears financially healthy. Go figure.

Hoping to mitigate the social damage that’s only guaranteed to escalate next year, GM CEO Mary Barra took a trip to Washington to speak for the automaker. However, there wasn’t much backpedalling or apology-making coming from the executive. Instead, Barra’s presence served only to show that the company is capable of listening while simultaneously reinforcing that there will be no changes made to the plan.  (Find Out…)

By on December 5, 2018

Earlier this week we mentioned that Ford’s restructuring plan might closely mimic General Motors’ strategy — resulting in widespread job losses. That theory was backed by an analysis from Morgan Stanley, which presumed the Dearborn-based automaker is likely to surpass GM in terms of layoffs, based on how much each intends to free up. Back in July, Ford said it would spend roughly three to five years on its $11 billion restructuring. All told, the financial services company believes the Blue Oval might shed at least 25,000 positions.

In the report’s wake, Ford CEO Jim Hackett is urging everyone not to panic. On Tuesday, he said Ford never provided numbers to Morgan Stanley analyst Adam Jonas, who estimated the significant employee reduction just one day earlier.  (Find Out…)

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