Ford To Layoff 20,000 Workers after profits DROP 35% in 2017

According to this Washington Examiner report Ford is planning to layoff 20,000 workers worldwide after reporting a 35% drop in Q1 profits.



Ford Motor Company is expected to announce later this week plans to gut 10 percent of its 200,000-person salaried workforce in North American and Asia, according to multiple reports late Monday.

The layoffs will go into effect by Oct. 1 and employees will receive early retirement incentives.

Hourly workers and those on the production line will not be effected.

Ford recently announced plans to cut $3 billion in costs after its profits in the first quarter of 2017 dropped 35 percent to $1.6 billion, according to a statement the company released April 27. It’s the first time in seven years since the recession that the company saw a decline in profits.

“Reducing costs and becoming as lean and efficient as possible also remain part of that work,” the company said in a statement. “We have not announced any new people efficiency actions, nor do we comment on speculation.”

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Thomas Dishaw is an activist and the editor of govtslaves.info. He has written for naturalnews.com and has been the subject of numerous hit pieces published by The Daily Mail, New York Daily News, Forbes and Gawker. Thomas currently resides outside of Philadelphia, PA with his wife and dog. You can support Thomas' work by making a donation below or purchasing some gear from the Gov't Slaves Store. You can reach Thomas via email at thomasdishaw@protonmail.com or follow him on Instagram.

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