Ford is cutting 7,000 white-collar jobs

Business 05/20/19, 08:35

Ford is cutting about 7,000 white-collar jobs, which would make up 10% of its global workforce.The company has said it was undertaking a major restructuring, and on Monday said that it will have trimmed thousands of jobs by August.The company said that the plan will save about $600 million per ...

Ford to invest $500M in electric vehicle startup Rivian

Business 04/24/19, 08:50

Ford is sinking a half-billion dollars into electric vehicle startup Rivian in a deal that has the companies working together on a new Ford electric vehicle based on Rivian underpinnings.Ford Motor Co. will become a minority partner in Rivian, which is based outside of Detroit and recently rolled out a ...

Ford CEO Jim Hackett wants balance, stability on tariffs

Business 04/09/19, 12:17

Ford CEO Jim Hackett says he’s hoping that trade talks now marked by threats of tariffs against imported vehicles result in a framework that brings balance and stability. The chief executive of the country’s No. 2 automaker said Tuesday that businesses want equilibrium on tariffs. He expressed confidence that President Donald ...

Ford CFO Shanks retires; former Snap CFO Stone to take over

Business 03/21/19, 09:23

Ford Motor Co. said its chief financial officer, Bob Shanks, will retire in December, capping a 42-year career at the automaker.The Dearborn, Michigan-based company on Thursday said that Tim Stone will succeed Shanks as chief financial officer. Stone will come to Ford in April and takes over as CFO on ...

VW, Ford team up on pickups, explore electric cooperation

World 01/15/19, 08:04

Volkswagen and Ford say they're forming a global alliance in which they will together develop commercial vans and medium-sized pickups while exploring broader cooperation on battery-powered and autonomous vehicles.Volkswagen CEO Herbert Diess and Ford CEO Jim Hackett said in a statement Tuesday that the first jointly developed vehicles could hit ...

Ford, Volkswagen in talks to build VWs at US Ford plants

Business 12/04/18, 19:49

Ford and Volkswagen are in talks about building VW vehicles in some of Ford's U.S. factories.VW CEO Herbert Diess told reporters after a meeting at the White House that the automaker in talks with Ford. The meeting was held Tuesday with executives from VW, BMW and Daimler to discuss trade ...

Investors seek restructuring details in Ford 3Q results

Business 10/24/18, 14:55

When Ford Motor Co. reports third-quarter earnings Wednesday afternoon, investors will be looking for details on how the company plans to remake itself.Ford CEO Jim Hackett has promised $11 billion in cuts over five years as the company resizes to better compete globally, and it has confirmed that some employees ...

Ford revamps China business, hires former Chery exec as CEO

Asia & Pacific 10/23/18, 23:45

Ford Motor Co. has revamped its Asian operations and made its China business a stand-alone unit, recruiting the head of local automaker Chery Automobile to be its new CEO.The company said Wednesday that industry veteran Chen Anning will replace Jason Luo, who quit earlier this year, just months after taking ...

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