Ford Announces Layoffs, Will Cut 7000 Global White-Collar Jobs
It was a weekend of rumors that big layoffs were about to hit, as reported by the/ Ford CEO Jim Hackett put out a memo to employees on Monday morning saying 500 salaried people are being cut for now; the cuts will reach 800 by the end of June and 7000 worldwide by summer's end./ Although Ford reported $1 billion in profit in the first quarter, that's down 34 percent from the previous year./ It has been a theme for U.S. corporations soaking in profits, low taxes, and a raging bull market over the past year: cut, cut, and cut some more. Ford ...
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