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Let's not forget the economic terrorism enacted by #mob criminal Twitler
Ford Prepares for Mass Layoffs After Losing $1 Billion to Trump's Trade Tariffs, Report Says
https://finance.yahoo.com/news/ford-prepares-mass-layoffs-losing-002618564.html
Jim Hackett, Ford’s CEO, is working to engineer a $25.5 billion restructuring of the automaker, hoping to cut costs and remain competitive, the Wall Street Journal reports. But auto sales are down, and one reason is the trade tariffs that Trump has imposed on metals and other goods. According to Bloomberg, Hackett has said they have already cost the company $1 billion in profit and could do “more damage” if the disputes aren’t resolved quickly.
Ford, the No. 2 U.S. automaker by sales, is making aggressive job cuts as part of that reorganization, NBC News reported. While the company hasn’t said how many jobs will be lost, a report from Morgan Stanley estimates “a global headcount reduction of approximately 12 percent,” or 24,000 of Ford’s 202,000 workers worldwide.”
While reports have indicated that the job cuts are likely to come early next year, The Kansas City Star reported Tuesday that Ford has temporarily halted production of transit vans in Claycomo, Mo. The move is intended to prevent a build-up in Ford’s inventories of the vans, but it will leave 2,000 workers idle between Oct. 22 and Nov. 4.
Ford, the No. 2 U.S. automaker by sales, is making aggressive job cuts as part of that reorganization, NBC News reported. While the company hasn’t said how many jobs will be lost, a report from Morgan Stanley estimates “a global headcount reduction of approximately 12 percent,” or 24,000 of Ford’s 202,000 workers worldwide.”
While reports have indicated that the job cuts are likely to come early next year, The Kansas City Star reported Tuesday that Ford has temporarily halted production of transit vans in Claycomo, Mo. The move is intended to prevent a build-up in Ford’s inventories of the vans, but it will leave 2,000 workers idle between Oct. 22 and Nov. 4.
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https://www.npr.org/2018/10/30/660721888/video-as-elections-loom-workers-in-trump-country-reckon-with-tariffs-fallout
America's largest nail manufacturer is feeling pretty small these days.
Many of of the factory machines at Mid Continent Nail have fallen silent, and more than a quarter of its workforce has been laid off. The company fears it may soon be a casualty of President Trump's trade wars.
The Missouri-based company used to get most of its steel from Mexico, so Trump's 25 percent tariff hit it hard. To stay afloat, Mid Continent Nail raised prices and consequently lost a lot of customers.
Despite facing an uncertain future brought on by Trump's tariffs, many of the remaining workers at Mid Continent Nail who voted for him in 2016 still support him. NPR sat down with several of the plant workers to talk about their faith in the president.
Many of of the factory machines at Mid Continent Nail have fallen silent, and more than a quarter of its workforce has been laid off. The company fears it may soon be a casualty of President Trump's trade wars.
The Missouri-based company used to get most of its steel from Mexico, so Trump's 25 percent tariff hit it hard. To stay afloat, Mid Continent Nail raised prices and consequently lost a lot of customers.
Despite facing an uncertain future brought on by Trump's tariffs, many of the remaining workers at Mid Continent Nail who voted for him in 2016 still support him. NPR sat down with several of the plant workers to talk about their faith in the president.
