Bipartisan Group of Senators Urges Trump to Reopen Government for 3 Weeks
Burger King is clowning on Trump's spelling of "hamberders"
France launches €50m no-deal Brexit plan for airports and ports
Taiwan holds live fire military exercises in response to China threat
China's United States trade surplus hit record in 2018 but tariffs bite
Ford plans to close plants and slash its workforce in Europe
13 January 2019, 09:42 | Austin Hogan
Ford to cut thousands of jobs in Europe
The US giant said the moves would "strengthen" the Ford brand and create a "sustainably profitable business in Europe".
Ford employs around 53,000 people at its wholly-owned facilities in Europe - over a quarter of its worldwide total.
Ford's $14 billion global cost-saving plans includes exiting the minivan segment, stopping manufacturing of automatic transmissions in Bordeaux in August, reconsidering its operations in Russian Federation, and combining the headquarters of Ford U.K. and Ford Credit to a site in Dunton, Essex.
Jaguar Land Rover CEO Ralf Speth said in a statement: "We are taking decisive action to help deliver long-term growth, in the face of multiple geopolitical and regulatory disruptions as well as technology challenges facing the automotive industry".
Unite, Britain's biggest trade union said it was engaging with Ford in an effort to safeguard jobs. Like many other carmakers, Ford has warned it won't meet its forecasts for 2018, and Chief Executive Officer Jim Hackett jettisoned a goal to reach an 8 percent profit margin by 2020.
"Unite is positively engaging with Ford over its plans as we seek to safeguard jobs and look after the interests of all the company's employees in the UK". Volkswagen has said it will see an unspecified number of job reductions as it changes three plants in Germany to production of electric vehicles, but assures there will be no involuntary departures before 2028.
Foreign exchange rates, a softening auto market, and a fall in diesel vehicle sales have also taken a toll on its earnings in the region.
UK PM May: Rejecting Brexit would be catastrophic
The risk of the British parliament seeking to frustrate Brexit has increased, Brexit minister Stephen Barclay said on Sunday. One of May's opponents in the Labour Party said he would table a vote of no confidence in the government if she loses.
Ford's Mr Armstrong said that pressure to build electric and hybrid cars had forced the carmaker to make choices about where to allocate its capital.
American multinational automaker Ford on Thursday, January 10, said that it would cut jobs across Europe as a part of its restructuring plans.
"This is not a effect of the Brexit situation", he said. He also revealed that Ford now plans to shift its focus to electric cars and said that every model will now have a battery-operated version.
The carmaker continues talks about a far-reaching alliance with Volkswagen in a deal that could increase Ford's manufacturing scale in commercial vehicles, Armstrong said.
The company on Thursday said it planned a major revamp in Europe, including job cuts to boost profitability, but did not specify numbers. Within the first nine months of 2018, Ford reported a loss of $199 million in Europe versus its $278 million profit in 2017 over the same time period.
Additional cost cutting could include the shuttering of underused United States factories, according to Morgan Stanley analyst Adam Jonas, despite President Donald Trump's public pressure on auto makers to maintain their USA workforces.
"We will migrate out of the MPV segment", Armstrong said, referring to the family vans segment.
Meghan Markle's Half-Brother Arrested for DUI
In the podcast " Royals " hosted by Rebecca Hyde and Angela Mollard, the latter criticized Markle's "tricky relatives". The hosts of the podcast also gave their opinion on how Prince Harry's wife can deal with her family's ongoing feud.
Winter Storm WARNING Issued for Our Area
Snowfall of 2-3 inches in most mountain areas with pockets getting over 3 inches. For Sunday rain will be in the forecast for most of the day with highs near 40°.
Packers hire LaFleur as head coach
The Titans finished 9-7 with a combination of Marcus Mariota and backup Blaine Gabbert at quarterback, and missed the playoffs. Instead, the Packers were the only team to interview LaFleur for a head coaching job since the season ended.
All you need to track any phone’s location is a small bribe
Motherboard first reported how bounty hunters were selling access to the real-time information for only a few hundred dollars. Verizon also said it terminated its relationship with Zumigo , a data aggregator named in the Motherboard report.
Gov. DeSantis suspends Broward County Sheriff Scott Israel
Under Florida law, the governor can suspend elected officials for criminal activity, misfeasance, incompetence or neglect of duty. At the end of the press conference, a reporter asked if the governor believes the scientists who say humans cause climate change.
Venezuela's Maduro starts second term in isolation
Velazquez blamed opportunists who drive up the prices on scarce items making life hard for families like hers. The economic collapse has left the nation of roughly 30 million in the throes of a historic crisis.
Deputies agree historic name change for Macedonia
Stoltenberg said in a tweet that the name change deal is "an important contribution to a stable and prosperous region". The remaining opposition lawmakers stayed away in protest, according to the Associated Press reports .