Analysts: Recent Automotive Job Cuts Are Just the Beginning

Over the last six months, automakers have announced roughly 38,000 job cuts as part of global restructuring efforts. While such things are typically part of the normal ebb and flow of the industry, the ebb could be a prolonged one as manufacturers seek ways to mitigate the high cost of tech and figure out what their businesses should look like in the 21st century. A litany of other issues are impacting jobs. China’s economy turned out to be less stable than presumed, trade tensions have escalated in practically every major market that builds cars, and most of the developed world appears to be nearly tapped out in terms of sales growth. As a result, analysts are growing concerned that the layoffs we’ve seen thus far are just the beginning. But they’re not the only ones. Industry insiders are also willing to admit that times are changing — and rather drastically.  Bloomberg, which has tabulated scheduled layoffs since late last year, did the same for the comments of industry experts attempting to forecast tomorrow. The prognosis could be better. Let’s start with Ford. Careful not to announce layoffs in lump sums, the manufacturer has promised a 7,000 global staffing reduction...

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