|Bid||10.28 x 38800|
|Ask||0.00 x 1100|
|Day's Range||10.20 - 10.30|
|52 Week Range||7.41 - 12.15|
|Beta (3Y Monthly)||0.91|
|PE Ratio (TTM)||13.23|
|Forward Dividend & Yield||0.60 (5.74%)|
|1y Target Est||N/A|
Ford's stock hovering near the flatline as it gears up to slash 7,000 salaried jobs by the end of August. That's about 10% of its workforce. Yahoo Finance's Dan Roberts joins Seana Smith.
Ford Motor is laying off 7,000 salaried employees as part of CEO Jim Hackett's restructuring plan to reduce bureaucracy, cut costs and turn the automaker into a more agile company prepared for a future that extends beyond its traditional business of producing and selling cars and trucks. The cuts represent about 10% of the automaker's salaried employees. Some buyouts and layoffs have already occurred, according to an email sent to employees by Hackett.
One of the major fears concerning the aluminum-bodied Ford F-150s introduced in 2015 was potentially high repair costs and subsequently high insurance premiums. But information from the Highway Loss Data Institute (HLDI), a part of the IIHS, reveals that the F-150 isn't any worse when it comes to insurance losses, and is still ahead of the other big pickups.
The following are the top stories in the Wall Street Journal. Reuters has not verified these stories and does not vouch for their accuracy. - U.S. officials said on Monday they would grant a handful of ...
China is also attracting much investment, with companies keen to increase their share of the world's largest car market and keep up with the country's push towards electric vehicles. Following are summaries of investments and restructuring efforts made by major automakers in the United States and China since 2017.
Ford revealed details of its long-awaited restructuring plan Monday as it prepared for a future of electric and autonomous vehicles by parting ways with 7,000 white-collar workers worldwide, about 10% of its global salaried workforce. In the U.S. about 2,300 jobs will be cut through buyouts and layoffs, Ford said.
The following are the top stories on the business pages of British newspapers. Reuters has not verified these stories and does not vouch for their accuracy. The Times Liberum has forecast a 25 per cent ...
Ford Motor Co. (NYSE: F) will cut about 7,000 white-collar jobs, about 500 of them this week in the U.S., as part of a major restructuring designed to save the automaker about $600 million per year. About 1,500 salaried U.S. employees left the company through voluntary buyouts that began last year, while 300 more have already been laid off. The cuts outside the U.S. are expected to be completed by August.
Ford (NYSE:F) has announced a new round of layoffs this week, informing workers that they will need to clean their desk by the end of the week.Source: FordHere are eight things to know about the job cuts: * The letter was sent by CEO Jim Hackett on Monday, asking 500 salaried workers that they were being laid off. * The Ford layoffs are part of a broader organizational redesign effort fueled by higher import tariffs for cars and car parts coming from the European Union and Japan enacted by the current presidential organization. * The job cuts are expected to continue, reaching 800 by the end of June and 7,000 worldwide by the end of August. * The letter said it will cut management ranks by 20%, saving the company about $600 million a year. * "We also made significant progress in eliminating bureaucracy, speeding up decision making and driving empowerment as part of this redesign," Hackett wrote. * The Ford CEO added that he hopes the departure is as painless as possible, thanking the workers for their service to the company, adding that they have "a range of resources and services in place to support employees in managing this transition." * Roughly 1,500 Ford workers took voluntary buyouts last year, according to company spokesman Daniel Barbossa in an email to NBC News. * Ford's $11 billion restructuring efforts have also led to the closures of numerous plants, as well as investing billions into electric vehicles and self-driving cars.F stock is down about 0.2% on Monday.InvestorPlace - Stock Market News, Stock Advice & Trading Tips More From InvestorPlace * 7 Stocks to Buy that Lost 10% Last Week * 6 Chinese Stocks That Could Pop On a Trade Deal * 7 High-Yield REITs to Buy (Even When the Market Tanks) Compare Brokers The post Ford Layoffs 2019: 8 Things to Know About the Upcoming Job Cuts appeared first on InvestorPlace.
Ford will cut 7,000 salaried jobs, 10% of the total, as the automaker continues to restructure. Ford stock dipped while other automakers also fell.
The headlines currently surrounding Ford Motor Company (NYSE:F) are more than a little alarming. Although Ford stock price regained some lost ground on word that new tariffs on imported auto parts wouldn't be imposed for six months, those tariffs are still on the table.Source: Shutterstock In the meantime, Ford's automobile dealer receipts fell 1.1% last month. The recall of 270,000 of its Fusion vehicles isn't a credibility booster for Ford stock, either.Still, for investors who can take a big step back and look at the bigger picture, F stock is an interesting, although not bulletproof, addition to portfolios right now. Though Ford stock is probably not a great fit for grandma's retirement portfolio just yet, it might be a good, overlooked fit for traders who can take a calculated, high-payoff risk.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 7 High-Yield REITs to Buy (Even When the Market Tanks) Car Mania, ReduxSince the U.S. and China are in the middle of negotiations, the new tariffs on auto parts imported into the U.S. from China will not go into effect by their original May 18th deadline.But the flipside is that tariffs on completed automobiles from China will also not go into effect. So for Ford as well as rivals like General Motors (NYSE:GM) and Tesla (NASDAQ:TSLA), the situation is a mixed blessing.The delay is arguably more beneficial than not for the United States' auto industry, which needs Chinese-made components more than American consumers want Chinese-made cars.The entire matter, however, isn't nearly as relevant to automakers as it's being made out to be by headlines. The United States' and China's auto market were both running into headwinds before the tariff wars started, with America's peak auto sales ccurring in 2015. and China's automobile sales peaking in 2017, crimping Ford's business in both nationsThat by far is the bigger headwind working against Ford stock at this time. By 2015, due to the exceptional length of the economic recovery, anybody in the United States who wanted a new car had that new car.Now, four years removed from the peak of new car sales, the average age of vehicles still in use has reached a modern-era record of 11.8 years. That's a testament to quality, but it still pushes the limits of how long vehicles can realistically last. Thus, another upswing in vehicle demand could occur in the U.S, boosting Ford stock price in the process. Timing Is EverythingThe next wave of vehicle sales will be led by trucks, SUVs and crossovers.That's a paradigm shift that Ford initially missed, perhaps partially because the company has had three CEOs since 2014..But there's a light at the end of the developmental tunnel for Ford."Our annual Car Wars analysis indicates that Ford will have one of the freshest line-ups in the US market over the next four years," explains Bank of America Merrill Lynch analyst John Murphy. Murphy goes on to say of his recent upgrade of Ford stock "Combined with the company's strategy to exit the passenger car segment, this product cadence bodes well for market share, mix/price, and profits in Ford's North America business."More importantly for the current and prospective owners of F stock, Murphy believes "Ford is just starting to hit a more sustainable inflection in earnings (even more so in 2020), driven by the combination of a favorable product cadence in the all-important US/[North America] market and restructuring efforts."China's auto market, as well as Ford's piece of it, is working its way through a similar reshaping.Murphy isn't alone in his bullishness on Ford stock. Jefferies analyst Philippe Houchois just upped his price target on F stock to $12.50, noting "broad-based improvements, guidance upgrade, dividend confirmation and reduced credit risk should go a long way towards convincing investors to re-visit Ford's investment case."Both arguments point to this year being a turning point for the company, not driven by economic forces, but by the end of an overhaul that took too long to complete. The Bottom Line on Ford StockAnalysts, on average, are looking for Ford's sales to drop a couple of percentage points this year and then finally even out next year en route to what will (hopefully) be sales growth. The bottom line, however, appears to have already made the turn. Last year's income of $1.30 per share is projected to improve to $1.39 per share of F stock this year, and next year's average estimate of $1.40 per share is probably unnecessarily cautious.Even so, priced at only a forward-looking price-earnings ratio of 7.3, the current Ford stock price is one that gives the automobile icon no credit whatsoever for anything it's still doing well. Even just a slightly stronger hint that it's turned the corner could be enough to spur the next leg of a rebound that got going in March.If the company can beat a couple of consensus quarterly earnings and revenue estimates before the year ends, Ford stock may even break out of a funk that's been driving it lower since 2014.As of this writing, James Brumley held a long position in Ford. You can learn more about James at his site, jamesbrumley.com, or follow him on Twitter, at @jbrumley. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * 7 High-Yield REITs to Buy (Even When the Market Tanks) * 5 Great Blue-Chip Stocks to Buy Today * 7 Tech Stocks to Buy That Are Also Perfect for Retirement Compare Brokers The post Taking a Shot on Ford Stock Now Wouldn't Be Completely Crazy appeared first on InvestorPlace.
Ford Motor Co. plans to eliminate more salaried jobs worldwide as part of its redesign, according to an email sent to employees that was published by Automotive News. Notifications will be sent to North American workers on Tuesday, while restructuring work continues in Europe, China, South America and other international markets, Ford’s Chief Executive Jim Hackett said in the email on Monday. The move will reduce the company’s management structure by close to 20% as Ford had planned, said the email.
It is effectively a recession in the U.S. automotive sector, and Ford is the latest company to respond, with plans to reduce its salaried staff by 7,000 people, or about 10%.
Why Trump Bears Responsibility for US Auto Industry Job CutsFord to cut jobsOn May 20, Ford Motor Company (F) joined the other automakers that have cut their salaried workforces in the United States to save on costs in the last couple of years.This
Ford CEO Announces Big Job Cut: Trump Might Not Like ItFord announces job cutEarlier on May 20, Ford Motor Company’s (F) CEO, Jim Hackett, announced a plan to cut ~7,000 white-collar jobs. Among the 7,000 jobs, Ford’s layoff plans would hurt
CEO Jim Hackett informed employees that the automaker is entering the final phase of its plan to shed 7,000 salaried positions globally, about 10% of its workforce, as it looks to save $600 million a year. "Ford is a family company and saying goodbye to colleagues is difficult and emotional," Hackett wrote in an email to employees, according to Automotive News. Ford began the layoff process in November, but this is the first time the company provided details about its job elimination strategy.
Ford Motor Co said on Monday it will eliminate about 10% of its global salaried workforce, cutting about 7,000 jobs by the end of August as part of its larger restructuring in a move that will save the No. 2 automaker $600 million annually. Ford Chief Executive Officer Jim Hackett said in an email to employees that the cuts include both voluntary buyouts and layoffs, and a spokesman added it freezes open positions as well. "To succeed in our competitive industry, and position Ford to win in a fast-changing future, we must reduce bureaucracy, empower managers, speed decision making, focus on the most valuable work and cut costs," Hackett said in the email.
Ford Motor Co. will lay off 500 salaried workers in the U.S. this week and 800 by the end of August, the Detroit Free Press reports. The layoffs are a part of an ongoing redesign of the company, which has included changes to its management, facilities and vehicle lineup. The redesign is expected to be wrapped up in North America by June, Ford said.
Eliminating the positions will save Ford about $600 million a year, Chief Executive Officer Jim Hackett wrote in a memo to employees Monday, seven months after the company informed employees of a salaried workforce “redesign.” The majority of the cuts will be completed by May 24 in North America, and by the end of August in markets including Europe, China and South America. “To succeed in our competitive industry, and position Ford to win in a fast-changing future, we must reduce bureaucracy, empower managers, speed decision making, focus on the most valuable work, and cut costs,” Hackett wrote.