Ford denies reports about 30,000 job cuts

Ford denies reports about 30,000 job cuts

Ford Motors has denied that they are considering job cuts in the range of 30,000 as rumored in the market. The company said in a statement that nothing is finalized in a restructuring plan, which they expect to reveal in the near future to bring the company back on track for a profitable outlook. However, the announcement still won’t bring any cheers to the thousands of Ford employees whose future depends upon what the company chalks up in their plan.

Job cutting is however still on the agenda of a meeting of the corporation’s board of directors Wednesday and Thursday. A ford spokesperson however said that speculation about the figures roaming around the media is not correct, as nothing has been finalized by the company. Ford is still on course for the announcement on the plan scheduled for next month.

Ford spokesperson Tom Hoyt said: “The plan is not final. We’re continuing to work on the plan, and all of the things that have been coming out in the media recently in various publications are speculating what may or may not be in the plan.” However, market analysts believe that the company cannot ignore the amount of losses they have made this year and job cuts are due to happen sooner than later.

The other American auto giant facing a similar situation, General Motors have already announced that they are cutting more than 3,600 people from its Canadian workforce. And the plan is to downsize their workforce by almost 30,000 in their North American operations in the next couple of years.