Ford, champion of plant closures, cuts jobs
Ford keeps cutting jobs, closing factories. And it has been for decades! The blue oval group should still announce the elimination of more than 4,000 jobs, assures the wall street journalup to 8,000 according to the agency Bloomberg. The group from Dearborn (Michigan) has scheduled a conference call this Thursday on its project to transition to electric vehicles. “We have established clear objectives for our cost structure so that we are lean and fully competitive,” commented a spokesperson for the group. Ford announced last March the creation of a new entity dedicated to zero-emission models called Ford Model e.
Like its competitors, Ford is focusing on electric vehicles, which inherently require less labor to manufacture. But overstaffing and overcapacity are a chronic problem at Ford. In June 2019, the group had already announced the elimination of… 23% of its European workforce. An austerity cure that is part of a vast global restructuring to save 11 billion dollars. Ford finds itself in a bad position. It was dubbed in the US market by Toyota. With barely 990,000 units sold in the first half of 2022 across the Atlantic, Ford is now third, behind GM (1.09 million) and… the Japanese (1.04 million). On the Old Continent, its situation is downright catastrophic. Its market share continues to plummet. From 10.8% in 2000, it fell to 8% in 2010, 4.6% in the first half of 2022, or even 3.6% in the month of June alone.
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