The Presidential Daily Brief


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    Ford Plans to Slash Workforce by 10 Percent

    They’re pulling back on the throttle. Sources say the company, beset by underwhelming stock performance and a 42 percent drop in first-quarter earnings, will shrink its headcount drastically. While it’s not clear whether the cuts will affect global workers or just salaried positions in North America and Asia, the measure’s part of Ford’s plan to cut $3 billion in costs this year. Details are expected as early as this week — and observers anticipate that any major U.S. cuts will put Ford on a collision course with President Trump.

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