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On 9 October 2018, Fortune magazine reported that the Ford Motor Company was laying workers off as a result of tariffs on metal imports implemented by President Donald Trump. The story, headlined Ford Prepares for Mass Layoffs After Losing $1 Billion to Trump's Trade Tariffs, Report Says, proclaimed that: It is true that, according to Ford CEO Jim Hackett, the company lost $1 billion in profit as a result of Trump's tariffs on imported steel and aluminum. Hackett told Bloomberg Television on 26 September 2018 that The metals tariffs took about $1 billion in profit from us -- and the irony is we source most of that in the U.S. today anyways. If it goes on longer, there will be more damage. It's also true that layoffs will be taking place at Ford, but spokeswoman Karen Hampton told us those job reductions have nothing to do with losses resulting from President Trump's tariffs and will affect the company's salaried workforce and not their hourly/manufacturing positions. Hampton said that this [reorganization] is a global effort and not specific to the U.S. We began this effort recently as part of our CEO’s work to make us a faster, more nimble, more innovative company. The reorg has nothing to do with external forces such as tariffs, she added. A company statement asserted that the reorganization will result in headcount reduction over time and this will vary based on team and location. We will announce more specifics at the appropriate time. Although a number of news stories have conflated the two events, an NBC News report noted that although the tariffs have been one of a series of blows the company has suffered, it's not a direct causal factor in planned layoffs: We reached out to Fortune via social media and email for comment but did not receive a response by publication time.
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