Ford’s stock is down 29%, and the tariffs imposed by President Trump have reportedly cost the company $1 billion, as the company is in the midst of a reorganization. Now, the company is announcing layoffs.
Jim Hackett, Ford’s CEO, is working to engineer a $25.5 billion restructuring, hoping to cut costs and remain competitive. But auto sales are down, and one reason is the trade tariffs that Trump has imposed on metals and other goods. Hackett has said the tariffs could do “more damage” if the disputes aren’t resolved quickly.
Read the article at Fortune.