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COMING UP:Share Opener Variant 1

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Ford is cutting some seven thousand jobs globally that's ten percent of its global salaried work force by the end of August as part of its larger restructuring twenty three hundred U. S. employees will be affected according to Ford which on Monday said the cuts will include both voluntary buyouts and lay offs for white collar workers and it will save the automaker six hundred million dollars annually Reuters global industry editor Joe white what Ford is doing with these layoffs it is it's trying to take out layers of management Ford said today that that previously they had fourteen layers of management %HESITATION which is a lot even for a big car company they're taking that down to nine which will sound like a lot %HESITATION to people who are familiar with much leaner company smaller companies like those that operate in Silicon Valley Ford CEO Jim Hackett said in an email to employees quote to succeed in our competitive industry and position for to win in a fast changing future we must reduce bureaucracy in power managers speed decision making focus on the most valuable work and cut costs one potential wrinkle in that plan tariffs US president Donald Trump has delayed a decision on whether to impose tariffs on auto imports to allow for more time for trade talks with the European Union and Japan Ford and in all the major automakers in the United States %HESITATION are are there all concerned about the threat of pterosaur imported vehicles and vehicle parts of Ford does not really important that many vehicles %HESITATION to the United States market from elsewhere in the world but imports plenty of parts and terrace on those parts would raise their costs at a time when sales are down and and the competition in the United States is getting tougher auto makers also warned terrace with threaten industry spending on self driving cars Ford has signed a deal with Germany's Volkswagen AG to join forces on commercial vans and pickup trucks and a broader alliance for electric and self driving vehicle development