Ford Plans Layoffs After $1 Billion Trump Tariff Hit

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    Andy Brown
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    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.

    https://www.yahoo.com/news/ford-plans-layoffs-1-billion-010934096.html

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