Trump's tariffs have already cost Ford $1B; now it's planning layoffs

Ford will be making cuts to its 70,000-strong white-collar workforce in a move it calls a "redesign" of its staff to be leaner, have fewer layers, and offer more decision-making power to employees, the company announced. The number of jobs that will be axed is unknown at this point. “A lot of the (reorganization) is about making different choices about strategy,” Chief Financial Officer Bob Shanks told NBC News, adding that the goal isn’t just to slash spending but to improve the “fitness” of the company.

https://www.nbcnews.com