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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsFord May Lay Off 24,000 In Trump's Trade War
Dan Desai Martin
October 10, 2018 12:47 am
Trumps trade war is also a war on American workers including workers at iconically American companies like Ford.
Ford has already lost $1 billion thanks to Trumps trade war, NBC News reports. And now the American automaker is looking at thousands of layoffs as part of a reorganization strategy.
The exact number of layoffs is unknown, but is estimated to be about 24,000 workers worldwide, according to a recent analysis from Morgan Stanley.
Ford has already warned that President Donald Trumps auto tariffs have impacted the company to the tune of $1 billion, and the presidents trade policies threaten to play havoc with Fords ongoing reorganization, Ford CFO Bob Shanks told NBC News.
The popular Ford Mustang could also be on the chopping block as a direct result of Trumps trade war with China. The Mustang had been the most popular U.S. car in China before the country imposed tariffs on American-made vehicles in response to Trumps tariffs.
more
http://www.nationalmemo.com/ford-may-lay-off-24000-in-trumps-trade-war/
beachbum bob
(10,437 posts)Blue_true
(31,261 posts)This sinks republicans in Michigan and may damage them in Ohio.
Hortensis
(58,785 posts)wherever have to be alarmed and wanting reassurance that this round won't affect them...
Ohiogal
(32,000 posts)American businesses laying off ..... no health care plan in the works at all .... no plan for infrastructure at all .... children at our southern border incarcerated in cages ..... lying misogynist installed on the Supreme Court .... stagnant middle class wages while the 1% gets tax cuts .....
I can't stand all this winning.
Sucha NastyWoman
(2,748 posts)And lay them off. Elections have consequences - too bad those consequences cant be borne by those responsible for them.
Blue_true
(31,261 posts)group.
SammyWinstonJack
(44,130 posts)NurseJackie
(42,862 posts)democratisphere
(17,235 posts)I am sure drumpf will have an auto worker bailout providing billions more in debt dollars.
SallyHemmings
(1,821 posts)Those laid off workers wont be buying stuff which means there will be other collateral damage.
I, too, hope it occurs before November 6.
Chuuku Davis
(565 posts)Focus
Fiesta
Fusion
Taurus
They lose money
And the Mustang is not on the chopping block
Srkdqltr
(6,290 posts)This is what happened just before the last recession. Things were going well then the auto companies started layoffs. Each layoff is at least 2 cars not sold . Then more layoffs the fewer cars sold. Not good for the economy.
Thrill
(19,178 posts)They played themselves
Va Lefty
(6,252 posts)Bengus81
(6,931 posts)Then they can lower labor costs to the bone.
Blue_true
(31,261 posts)It is more exposed to China and trade partners than Ford.
Initech
(100,076 posts)Here's the thing Trumpers - Democrats will make sure that you keep your jobs. Republicans will sell yours off to the highest bidder and you'll be forced to fight for the low wage service job that it gets replaced with. Get how that works?