Life Ford to lay off 24,000. Temporary stop of production at Claycomo, MO plant near KC

Chief Roundup · 11:39 AM

Ford is having a bad year in 2018. Its stock is down 29%, and the tariffs imposed by President Trump have reportedly cost the company $1 billion, as the company is in the midst of a reorganization. Now, the company is announcing layoffs.

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.

Despite news of the layoffs, Ford’s stock closed down 3.4% Tuesday.

At a time when automakers are scrambling to prepare for self-driving cars, Ford is also struggling to keep pace with the rest of the industry. September was a bad month for U.S. auto sales—with aggregate sales down 7%—but Ford’s drop off was even more severe. Ford said its sales of its vehicles declined 11.2% last month, with sales of its best-selling F-Series pickup trucks down 9%.

baitism · 10-29-2018, 11:26 AM

U.S. carmakers are notoriously bad at marketing. I really try to by American products, but cars are never that appealing to me. I have owned one U.S. made car, and that was a Jeep.

oldman · 10-29-2018, 11:27 AM

I drove by the old Woodlands last week and I thought I saw a bunch of those Transit vans parked there. Does anyone know if that's the case?

Dayze · 10-29-2018, 11:29 AM

Quote:

Originally Posted by oldman

I drove by the old Woodlands last week and I thought I saw a bunch of those Transit vans parked there. Does anyone know if that's the case?

that's just where all the kidnappers congregate.

**alpha_omega** · 10-29-2018, 11:29 AM

At best....misleading thread title.

oldman · 10-29-2018, 11:30 AM

Quote:

Originally Posted by Dayze

that's just where all the kidnappers congregate.

Nuk, nuk, nuk

Chief Roundup · 10-29-2018, 11:30 AM

Quote:

Originally Posted by alpha_omega

At best....misleading thread title.

Quote:

Originally Posted by Chief Roundup

Ford is having a bad year in 2018. Its stock is down 29%, and the tariffs imposed by President Trump have reportedly cost the company $1 billion, as the company is in the midst of a reorganization. Now, the company is announcing layoffs.

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.

Despite news of the layoffs, Ford’s stock closed down 3.4% Tuesday.

At a time when automakers are scrambling to prepare for self-driving cars, Ford is also struggling to keep pace with the rest of the industry. September was a bad month for U.S. auto sales—with aggregate sales down 7%—but Ford’s drop off was even more severe. Ford said its sales of its vehicles declined 11.2% last month, with sales of its best-selling F-Series pickup trucks down 9%.

How do you figure?

carcosa · 10-29-2018, 11:31 AM

thank u daddy turmp

R Clark · 10-29-2018, 11:31 AM

Damn best seller is the f series truck they be screwed , as that's the biggest pile shit truck going. I'd drive a dodge before a ford

Sassy Squatch · 10-29-2018, 11:31 AM

Work at the plant. That Transit layoff has been in the books for a long time. Nothing to do with the salary side job cuts.

htismaqe · 10-29-2018, 11:34 AM

The bulk of the 202K layoffs worldwide are management employees. Middle managers and other white collar jobs. Not factory workers.

ModSocks · 10-29-2018, 11:35 AM

Quote:

Originally Posted by baitism

U.S. carmakers are notoriously bad at marketing. I really try to by American products, but cars are never that appealing to me. I have owned one U.S. made car, and that was a Jeep.

That's a YOU problem. Their marketing is fine. The cars are as good as they've ever been.

**mikeyis4dcats.** · 10-29-2018, 11:36 AM

Quote:

Originally Posted by Chief Roundup

How do you figure?

Well, it kind of implies Claycomo is going to be shuttered. Probably ought to say "to temporarily stop"

**gblowfish** · 10-29-2018, 11:37 AM

Off to the DC in 3.......2.......1....

Chief Roundup · 10-29-2018, 11:40 AM

Quote:

Originally Posted by gblowfish

Off to the DC in 3.......2.......1....

Shouldn't be moved.

10-29-2018, 11:23 AM
Chief Roundup Admitted Planet Junky Join Date: Oct 2000 Casino cash: $2021627	Ford to lay off 24,000. Temporary stop of production at Claycomo, MO plant near KC Ford is having a bad year in 2018. Its stock is down 29%, and the tariffs imposed by President Trump have reportedly cost the company $1 billion, as the company is in the midst of a reorganization. Now, the company is announcing layoffs. 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. Despite news of the layoffs, Ford’s stock closed down 3.4% Tuesday. At a time when automakers are scrambling to prepare for self-driving cars, Ford is also struggling to keep pace with the rest of the industry. September was a bad month for U.S. auto sales—with aggregate sales down 7%—but Ford’s drop off was even more severe. Ford said its sales of its vehicles declined 11.2% last month, with sales of its best-selling F-Series pickup trucks down 9%. Last edited by Chief Roundup; 10-29-2018 at 11:39 AM..
Posts: 19,209

10-29-2018, 11:26 AM	#2
baitism Starter Join Date: Jul 2005 Location: Overland Park, KS Casino cash: $5109551	U.S. carmakers are notoriously bad at marketing. I really try to by American products, but cars are never that appealing to me. I have owned one U.S. made car, and that was a Jeep.
Posts: 125

10-29-2018, 11:27 AM	#3
oldman Curmudgeon Join Date: Dec 2011 Location: North by Northwest Casino cash: $5836784	I drove by the old Woodlands last week and I thought I saw a bunch of those Transit vans parked there. Does anyone know if that's the case?
Posts: 5,319

10-29-2018, 11:29 AM	#5
alpha_omega Supporter Join Date: Jan 2004 Location: Liberty Casino cash: $1601251	At best....misleading thread title.
Posts: 16,741

10-29-2018, 11:31 AM	#8
carcosa Thank you Join Date: May 2014 Casino cash: $2783695	thank u daddy turmp
Posts: 22,839	3 1

10-29-2018, 11:31 AM	#9
R Clark Veteran Join Date: Aug 2001 Casino cash: $4824900	Damn best seller is the f series truck they be screwed , as that's the biggest pile shit truck going. I'd drive a dodge before a ford
Posts: 2,603

10-29-2018, 11:31 AM	#10
Sassy Squatch The man you could post like. Join Date: Oct 2010 Casino cash: $2419655	Work at the plant. That Transit layoff has been in the books for a long time. Nothing to do with the salary side job cuts.
Posts: 37,961	2 0

10-29-2018, 11:34 AM	#11
htismaqe 'Tis my eye! Join Date: Aug 2000 Location: Chiefsplanet Casino cash: $10269900	The bulk of the 202K layoffs worldwide are management employees. Middle managers and other white collar jobs. Not factory workers.
Posts: 100,022

10-29-2018, 11:37 AM	#14
gblowfish Be Kind To Your Pets Join Date: Jun 2002 Location: Glorious Independence, MO Casino cash: $17666178 VARSITY	Off to the DC in 3.......2.......1....
Posts: 40,834