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Showing results for tags 'cost cutting'.
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Ford Plans On Cutting 1,400 Salaried Jobs in North America, Asia
William Maley posted an article in Ford
A day after reports saying Ford was planning a significant layoff of its global workforce, the company has cleared the air on the cuts. In a statement issued today, Ford announced that it would be cutting 10 percent of its salaried employees in North America and Asia - roughly 1,400 employees. Ford says the cuts are needed to reduce costs as the company readies for a slowdown in sales and investing more into new technologies. "We remain focused on the three strategic priorities that will create value and drive profitable growth, which include fortifying the profit pillars in our core business, transforming traditionally underperforming areas of our core business and investing aggressively, but prudently, in emerging opportunities," the company said in a statement. According to Automotive News, Ford will offer workers voluntary early retirement and special separation packages to reach their goal. Two-thirds of the cuts will come from the North America region. As we reported yesterday, the job cuts are part of Ford's plans to cut costs by $3 billion. Source: Automotive News (Subscription Required) -
A day after reports saying Ford was planning a significant layoff of its global workforce, the company has cleared the air on the cuts. In a statement issued today, Ford announced that it would be cutting 10 percent of its salaried employees in North America and Asia - roughly 1,400 employees. Ford says the cuts are needed to reduce costs as the company readies for a slowdown in sales and investing more into new technologies. "We remain focused on the three strategic priorities that will create value and drive profitable growth, which include fortifying the profit pillars in our core business, transforming traditionally underperforming areas of our core business and investing aggressively, but prudently, in emerging opportunities," the company said in a statement. According to Automotive News, Ford will offer workers voluntary early retirement and special separation packages to reach their goal. Two-thirds of the cuts will come from the North America region. As we reported yesterday, the job cuts are part of Ford's plans to cut costs by $3 billion. Source: Automotive News (Subscription Required) View full article
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Hyundai has been seeing its sales declined as it doesn't have enough crossovers and SUV to feed the growing demand by consumers. This, in turn, is causing profits to drop, making investors disappointed. Because of this Hyundai is going crazy with cutting costs. Reuters reports that Hyundai's cost-cutting measures include reducing the number of business-class flights, annual trips for overseas workers to see family, and cutting back on fluorescent light bulbs. "We're trying to address a mismatch between the market trend and our product line-up. That's a longer term plan. For now we're trying to save every penny," said a source. Hyundai is working overtime to get new crossovers out the door starting with a B-segment model in 2018. In the meantime, Hyundai is redirecting exports from low-demand markets to the U.S. Source: Reuters View full article
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Hyundai has been seeing its sales declined as it doesn't have enough crossovers and SUV to feed the growing demand by consumers. This, in turn, is causing profits to drop, making investors disappointed. Because of this Hyundai is going crazy with cutting costs. Reuters reports that Hyundai's cost-cutting measures include reducing the number of business-class flights, annual trips for overseas workers to see family, and cutting back on fluorescent light bulbs. "We're trying to address a mismatch between the market trend and our product line-up. That's a longer term plan. For now we're trying to save every penny," said a source. Hyundai is working overtime to get new crossovers out the door starting with a B-segment model in 2018. In the meantime, Hyundai is redirecting exports from low-demand markets to the U.S. Source: Reuters -
Volkswagen's MQB Platform Will Be Around For Two More Generations
William Maley posted an article in Volkswagen
Volkswagen's brand chief Herbert Diess revealed in an interview this past weekend that the modular MQB platform with some minor tweaks will underpin the next two generations of their vehicles. "The MQB has high technical substance, so we can use it for the next two vehicle generations without further major investments," Diess told German newspaper Boersen-Zeitung. This move is in an effort to save a bit of cash due to the fallout of the diesel emission scandal. Diess didn't say what kind of tweaks would be done. MQB currently underpins a number of Volkswagen vehicles in the world. In the U.S., the entire Volkswagen Golf lineup and upcoming Atlas crossover. Source: Reuters -
Volkswagen's brand chief Herbert Diess revealed in an interview this past weekend that the modular MQB platform with some minor tweaks will underpin the next two generations of their vehicles. "The MQB has high technical substance, so we can use it for the next two vehicle generations without further major investments," Diess told German newspaper Boersen-Zeitung. This move is in an effort to save a bit of cash due to the fallout of the diesel emission scandal. Diess didn't say what kind of tweaks would be done. MQB currently underpins a number of Volkswagen vehicles in the world. In the U.S., the entire Volkswagen Golf lineup and upcoming Atlas crossover. Source: Reuters View full article
