Then And Now

Ken AshfordEconomy & Jobs & Deficit, Trump & AdministrationLeave a Comment

Then (March 2019)

(Both investments were, at least in part, negotiated as part of the 2015 UAW contract negotiations, which were finalized in the fall of 2015. In that contract, Ford agreed to invest $900M in Chicago and $700M in Flat Rock.)

NOW (May 2019)

Ford Motor said Monday that it is laying off about 7,000 managers and other salaried employees, about 10% of its white-collar workforce across the globe, as part of a restructuring plan designed to save the No. 2 automaker $600 million annually.

The cuts, some of which were previously announced by the company, will be completed by August, Ford CEO Jim Hackett said in an email to employees Monday. Most of the reductions are overseas with roughly 2,300 of the job cuts coming from the United States. A company spokesman said 1,500 of the 2,300 U.S. job cuts were voluntary buyouts from last year.