Yet another Trump MAGA lie exposed as Ford announces it’s cutting 7,000 jobs, starting with hundreds in the US this week. Here are the details…
Reports are coming in that Ford is slashing its workforce once again.
From Automotive News:
DETROIT — Ford Motor Co. CEO Jim Hackett told employees Monday the automaker is entering the final stretch of job cuts it began last year, and by September it will have shed 7,000 salaried positions globally — roughly 10 percent of its salaried work force — saving the company $600 million annually.
The number includes voluntary buyouts, involuntary separations and open positions Ford chose not to fill. Of the 7,000, about 800 involuntary separations will have occurred in the U.S., some 500 of which are scheduled to happen this week.
This comes at a terrible time for Ford.
Well, Ford pretty much dug its own grave with the decision last year to focus on large SUVs and trucks while pretty much ditching their car line-up altogether.
From April, 2018:
… the company announced Thursday that it’s shuttering the last of its US sedan brands as it shifts its focus to international markets, trucks and SUVs. It is a drastic move, as the company will be phasing out sedan models that have a long history with the company, including models like the recently revamped Ford Taurus.
Just exactly how does China need the US, when it appears that it is the US that actually needs China (and other markets)?
Back on track.
Why is the shift to SUV’s and trucks important?
Because they began the transition some 10-years into an economic “recovery”.
What happens when the economy turns down?
Spoiler alert: People lose jobs, car (and truck) sales plummet, people spend less, people go deeper into debt, and a whole host of things like that happen that does not spell “good news” for the automotive industry.
Quite the opposite.
Furthermore, the move by Ford to focus on the gas guzzlers came following a several-years decline in the price of oil, in conjunction with a several-years strengthening of the US dollar.
In other words, Ford, in my opinion, made company-altering changes at just the wrong time, and now, it appears those changes appear to have been deadly.
But Ford hasn’t collapsed, yet.
Change takes time, you know.
Back to the seemingly out-of-place reference to China above.
I don’t see any positives for Ford going forward, and I’m also now basing that argument because of a deteriorating global economy.
Sure, a weakening dollar, which I think is up next, will make Ford trucks less expensive internationally, but if the global economy is weakening, which is putting it lightly, then how is Ford going to sell more and not less vehicles internationally?
There is also a trade war that has been escalating in the year since Ford first began its changes.
So, add in some tariffs and what is increasingly being called a “peoples war”, as in that the Chinese population going to economic war against America, and what we have is the recipe for more than just disaster.
Additionally, Trump has been quite clear about singing Ford’s praises as seen here:
Last year President Trump made government even bigger with his creation of yet another government council, the Council for the American Worker, and as part of the council, Ford pledged 55,000 “opportunities” to American workers.
That screenshot above was taken just now, Monday, May 20th, 2019, and I’d suggest everybody going to that web-page.
Because when Ford is actually cutting American jobs, then how exactly is Ford going to create 55,000 of them?
Furthermore, why hasn’t President Trump changed the running stats to make note of the job losses?
This is further evidence that the US economy is in much worse shape than people believe.
You see, people believe President Trump is creating all these fine, awesome jobs.
Of course, if you understand Trump is the Deep State’s Fall Guy.
Then all of these now, and coming, job losses make sense.
We do not have a booming economy, we have lies.
We do not have markets, we have the ESF.
It’s all going to reach a climax in the US.
Inflation plus layoffs & store closures.
Bankruptcies, economic collapse.
Break-down of society & riots.
Suicides rates keep spiking.
America’s mood worsens.
Dollar loses its value.
Most’ll be shocked.
How’d it happen?
Well, we let it.
– Half Dollar
About the Author
U.S. Army Iraq War Combat Veteran Paul “Half Dollar” Eberhart has an AS in Information Systems and Security from Western Technical College and a BA in Spanish from The University of North Carolina at Chapel Hill. Paul dived into gold & silver in 2009 as a natural progression from the prepper community. He is self-studied in the field of economics, an active amateur trader, and a Silver Bug at heart.