tag:blogger.com,1999:blog-4021655406620953887.post9064887283525159657..comments2023-09-15T03:29:21.552-04:00Comments on Transparent Traders: $F ---> Ford sees twisting road ahead, cuts 7K white-collar jobsTransparent Tradershttp://www.blogger.com/profile/05306442633125245146noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-4021655406620953887.post-91347088952710257942019-05-21T06:54:33.255-04:002019-05-21T06:54:33.255-04:00After two years of fielding questions on his plans...After two years of fielding questions on his plans for a turnaround, Ford (-0.10%) CEO Jim Hackett is finally turning around. He said Ford plans to cut about 7,000 salaried jobs, or roughly 10% of its white collar workforce, before summer’s over.<br /><br />What’s worse than sending a pink slip to 7,000 employees? Bureaucracy. Hackett said the cuts, which will trim Ford’s management structure by almost 20%, will result in a “flatter and more agile team.”<br /><br />And agility has been a problem at Ford, which has watched profits and market share dip in both North America and China in recent years. Too many cooks in the corner office kitchen have bloated Ford’s cost structure and dragged down its vehicle development process—while the competition has been busy innovating in the lab.<br /><br />Bottom line: Tech is advancing at a rapid clip and Detroit’s tea leaves suggest global car demand is peaking. These job cuts, which should save Ford about $600 million annually, will help it keep up with the industry’s structural changes.Transparent Tradershttps://www.blogger.com/profile/05306442633125245146noreply@blogger.com