Ford Plans Layoffs After $1 Billion Trump Tariff Hit

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86_regal
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Re: Ford Plans Layoffs After $1 Billion Trump Tariff Hit

Post by 86_regal » Wed Oct 10, 2018 7:59 pm

sanfordandson wrote:
Tue Oct 09, 2018 12:53 pm
https://www.yahoo.com/news/ford-plans-l ... 34096.html
Ford Motor Company is reportedly preparing to initiate major layoffs after suffering a blow to profits of at least $1 billion due to tariffs enacted by President Donald Trump.

The nation’s largest automaker hasn’t yet revealed how many workers will be affected. But a report by Morgan Stanley estimated that as many as 12 percent of the company’s 202,000 workers worldwide could be cut, NBC reported.

Layoffs will center on Ford’s 70,000-strong white-collar workforce as part of what the company is calling a “redesign” of its staff in an ongoing $22.5 billion reorganization, according to NBC.

Trump’s tariffs and the retaliatory tariffs they triggered are taking a toll on the U.S. auto industry.

Ford CEO Jim Hackett told Bloomberg last month that tariffs on imported aluminum and steel alone dealt a blow to company profits.

“From Ford’s perspective the metals tariffs took about $1 billion in profit from us,” Hackett said. “The irony of which is we source most of that in the U.S. If it goes on any longer, it will do more damage.”

The ongoing trade war is expected to continue to hurt the company’s bottom line. Earlier this year, Trump said that “trade wars are good, and easy to win.”

Ford announced a shift earlier this year to produce almost exclusively SUVs and trucks. Those vehicles continue to grow in popularity and are more profitable.

Its only passenger car will remain the popular Mustang, but production of the iconic brand could also be hurt if profits continue to fall.

The automaker said last month that it was ditching plans to sell its new Focus crossover vehicle in the U.S. The Ford Focus Active is manufactured in China. Because of the U.S.’s new tariffs on imported cars, it’s no longer profitable for the company to sell it in America, officials said.

“This is the first of potentially many vehicles that will disappear from the U.S. market” due to the trade war, Kristin Dziczek of the Ann Arbor, Michigan-based Center for Automotive Research warned.
Just one of many examples of the results of letting these bumbling idiots from D.C. get involved.

First, we let them print money out of thin air through the Fed, eroding the dollar which imposes US market pressure to raise wages in lieu of that eroded dollar which puts MORE pressure on manufacturers to search out cheaper places to make so many of these products like the Focus because they'd be TOO EXPENSIVE to make in the states.

THEN, we let them apply a tax on those SAME products, making it either AT LEAST EQUALLY as expensive as American made products (which would be overpriced IF the tariff had NOT been applied) OR UNAVAILABLE because it's no longer profitable to sell here.

When TF are we going to tell these people to SIT DOWN, SHUT TF up, get OUT OF THE WAY and the the market sort this shit out?!

I wonder how DT is gonna talk his way out of this one...?

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Re: Ford Plans Layoffs After $1 Billion Trump Tariff Hit

Post by F-BIRD'88 » Wed Oct 10, 2018 8:52 pm

The tarrifs ARE making the american made products MORE EXPENSIVE , not less. Stuff is made out of raw materials like steel aluminum and wood, all of which are being tarrifed by the orange clown now. Thats why your prices are rising on your own stuff you buy.
Do you got more money? No... But Trump does.
Your exports will go down as your stuff becom?s more expensive to you and import buyers too.
It is you the american consumer who pays for the tarrifs in what you buy thats made in america.
This slows the economy. When that happens the confidence in the market collapses.
Recession..... Depression financial meltdown.

Right now you are STILL riding the economy recover authored by the Obama presidency.
It won't last. Trump and his tradewar are ensuring that....Buckle up....

The Ford layoffs and planned elimination of vertually all
Cars model domestic production is the canary in the coal mine clue. By the way coal. The coal market is STILL collapsing in America. Big layoffs and bankruptcys.

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Re: Ford Plans Layoffs After $1 Billion Trump Tariff Hit

Post by F-BIRD'88 » Wed Oct 10, 2018 9:02 pm

Trump just essentually RAISED YOUR TAXES. ALot.
While giving billionaires the big tax break.
Tarrifs are a tax on what you buy.

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Re: Ford Plans Layoffs After $1 Billion Trump Tariff Hit

Post by exhaustgases » Wed Oct 10, 2018 9:04 pm

I say let the stupid American company's go down the tube. If they wish to gouge prices I just hope everyone stops buying the crap. Talk about gouging look at snap on tools. Just take a look how they are made, sockets, thousands per day, so what do they do with the ones they don't sell? Back in the furnace? Craftsmans used to go in the dumpster.
Sorry but A h Company's like that need major competition. Why are prices so high? Office buildings with hundreds of people sitting in front of computer screens, and tossing stuff. So the talk is things may go bust soon anyway.

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Re: Ford Plans Layoffs After $1 Billion Trump Tariff Hit

Post by GRTfast » Wed Oct 10, 2018 9:08 pm

F-BIRD'88 wrote:
Wed Oct 10, 2018 9:02 pm
Trump just essentually RAISED YOUR TAXES. ALot.
While giving billionaires the big tax break.
Tarrifs are a tax on what you buy.
You will be hard pressed to find a Trump supporter that will acknowledge is this simple fact. To do so, they'd have to confront the fact that they were duped by a con artist who cares nothing about them, and would step on their neck to get an extra penny.

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Re: Ford Plans Layoffs After $1 Billion Trump Tariff Hit

Post by GRTfast » Wed Oct 10, 2018 9:09 pm

86_regal wrote:
Wed Oct 10, 2018 7:59 pm


I wonder how DT is gonna talk his way out of this one...?
Easy. Lie. Duh. :lol:

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Re: Ford Plans Layoffs After $1 Billion Trump Tariff Hit

Post by 86_regal » Wed Oct 10, 2018 10:23 pm

:lol:
GRTfast wrote:
Wed Oct 10, 2018 9:09 pm
86_regal wrote:
Wed Oct 10, 2018 7:59 pm


I wonder how DT is gonna talk his way out of this one...?
Easy. Lie. Duh. :lol:
:lol: :lol: :lol:

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Re: Ford Plans Layoffs After $1 Billion Trump Tariff Hit

Post by dirtracr5 » Wed Oct 10, 2018 10:30 pm

GRTfast wrote:
Wed Oct 10, 2018 9:08 pm
F-BIRD'88 wrote:
Wed Oct 10, 2018 9:02 pm
Trump just essentually RAISED YOUR TAXES. ALot.
While giving billionaires the big tax break.
Tarrifs are a tax on what you buy.
You will be hard pressed to find a Trump supporter that will acknowledge is this simple fact. To do so, they'd have to confront the fact that they were duped by a con artist who cares nothing about them, and would step on their neck to get an extra penny.
The sheep follow no matter what...

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Re: Ford Plans Layoffs After $1 Billion Trump Tariff Hit

Post by exhaustgases » Thu Oct 11, 2018 3:04 pm

Maybe also getting ready for the big move, when the regulations come back with a vengeance.

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Re: Ford Plans Layoffs After $1 Billion Trump Tariff Hit

Post by pdq67 » Thu Oct 11, 2018 5:18 pm

I have said many times that fully 65 percent of the heavy industry that was AP Green Refractories, Mexico, MO customer base are gone!

These places created products that then were sold at a profit to fuel our great country!!

And now Greens is pretty-much gone too! What is left of it is in with ANH in PA.

The crap I am reading here if it is no more than 10 percent true doesn't look good at all!

pdq67

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Re: Ford Plans Layoffs After $1 Billion Trump Tariff Hit

Post by Brian P » Thu Oct 11, 2018 5:49 pm

US unemployment is at 3.7%. Why is anyone worried about jobs ... aside from the possibility of tariffs and trade issues screwing them up?

Certain types of jobs have gone away due to structural changes in the US economy, but they have been replaced with others. The unemployment rate couldn't be that low otherwise.

Sure, there will be some people who can't adapt. But at 3.7% unemployment ... it's not many.

The graph of the US unemployment rate (which is easy to look up) increases rapidly between 2008 and 2010 for obvious reasons, then it began a slow decline. By the time of the 2016 election US unemployment was exactly where it was in mid 2007 before the recession/depression (4.7%). The 2016 election is indistinguishable on that graph; the already established trend carried on through.

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Re: Ford Plans Layoffs After $1 Billion Trump Tariff Hit

Post by pdq67 » Thu Oct 11, 2018 6:00 pm

I guess my worry is, sure the UE is way low, but are the people working able to live on the wages they get paid??

Or is a heck of a bunch of them working two, maybe three jobs just to make ends meet??

Education and medical are stupidly out of sight so factor these in too..

Am I missing the silver lining in the clouds??

pdq67

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Re: Ford Plans Layoffs After $1 Billion Trump Tariff Hit

Post by j-c-c » Thu Oct 11, 2018 6:14 pm

Brian P wrote:
Thu Oct 11, 2018 5:49 pm
US unemployment is at 3.7%. Why is anyone worried about jobs ... aside from the possibility of tariffs and trade issues screwing them up?

Certain types of jobs have gone away due to structural changes in the US economy, but they have been replaced with others. The unemployment rate couldn't be that low otherwise.

Sure, there will be some people who can't adapt. But at 3.7% unemployment ... it's not many.

The graph of the US unemployment rate (which is easy to look up) increases rapidly between 2008 and 2010 for obvious reasons, then it began a slow decline. By the time of the 2016 election US unemployment was exactly where it was in mid 2007 before the recession/depression (4.7%). The 2016 election is indistinguishable on that graph; the already established trend carried on through.
"You talk like a fag" Idiocracy :lol:
PS that is sarcasm =D>
https://www.youtube.com/watch?v=oCIo4MCO-_U

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Re: Ford Plans Layoffs After $1 Billion Trump Tariff Hit

Post by exhaustgases » Thu Oct 11, 2018 7:55 pm

Brian P wrote:
Thu Oct 11, 2018 5:49 pm
US unemployment is at 3.7%. Why is anyone worried about jobs

Because the demonrats could become your next government. That should answer your question.

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Re: Ford Plans Layoffs After $1 Billion Trump Tariff Hit

Post by RevTheory » Thu Oct 11, 2018 8:12 pm

^^^^Bingo! And bring all the regulations and taxes back that stalled ohbummer's "recovery" for 8 long years.^^^^

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