Ford to cut it’s global employment by 20,000 workers

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Ford to cut it’s global employment by 20,000 workers

To increase the stock price, Ford Motor Company is deciding to get 10 percent of its global employment out of factories.

On Monday it was noted that ford is going to put its plan into action as soon as this week.

The actions are apparently the key to incredible automaker’s plan to spare $3bn in 2017. The organization has 200,000 representatives all around, by counting half of them only in the United States.

“Our focus is on the three main points that will make valuable and fruitful development, which involves the establishing of profit foundation in our business, modifying traditional systems and making a sincere investment in good reforms, Ford said to the reporters.

The company said ” cost reduction, flexibility, and efficiency is the main motive of this work. Nevertheless, there will be no new recruitments of the effective task force and we will not specify anything for future considerations.

Ford has not informed about the actions on Monday evening.

More than a third of their shares value has dropped since Mark Fields became CEO in the year 2014.

Tesla Inc. which makes electric cars and sells very few vehicles has recently outperformed in market value over Ford.

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