Ford
to hire 1200 workers for building Fusion
Ford Motor Company(NYSE:F) is hiring an
additional 1200 workers at a Detroit plant for manufacturing the Fusion,
indicating the company’s confidence that the revamped sedan will be a huge draw
when it is available for sale later in the year. On Monday, President of Ford
Americas Mark Fields, told workers at the Flat Rock factory that the car’s
target segment is growing at double the pace of the rest of the consumer
segments in the auto industry.
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Manufactured only in Mexico until now,
Fusion will now be built in the U.S. thanks to new labor contracts that have
reduced U.S. manufacturing costs, making production in the country feasible for
the company. The Flat Rock plant already manufactures the Mustang. The company
will start hiring in the coming spring. It also plans to invest $555 million in
plant equipment.
Further
job cuts on the cards at HP
In its attempts to bounce back into the
black, Hewlett-Packard Company(NYSE:HPQ) is planning to cut 2000 more jobs than
originally planned. According to its regulatory filing report, the company has
said that it will slash 29,000 thousand jobs by October 2014. In May, the
computer maker had announced that it will cut 27,000 jobs. The reason for the
change is not immediately known. These cuts are expected to cost the company
$3.7 billion.
The Palo Alto, California based company
has been severely affected by the technology shift in the past few years. Consumers
are increasingly spending on cell phones and tablets and are buying fewer
computers and printers, HP’s staple products. Last month, the company declared
its largest loss in 73 years.
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On Monday morning, HP shares were
trading at $17.59 up 1.5 percent. The stock continues to hover near the eight
year low of $16.77 that it touched on August 30.
HP looks to have hit the bottom...run SHORTS run!!!
ReplyDeleteThe delicious irony in this news item...Ford says it will hire 1200 AMERICAN workers in DETROIT....I rubbed my eyes twice before I could believe it.
ReplyDeleteBut that is not ironic. What is ironic is that HP says 27000 was not big enough of a cut, and that 2000 more people need to join the unemployed brigade in an election year before HP's crewed up books could be delicately balanced to show a sliver of green. BUNKUM!
This is a company that wasted $14 billion on EDS, then another $2 Billion on Palm, just to shut off that active hub of innovation and individuality. The total shareholder value destroyed went up another $10 Billion with the acquisition of grossly over-hyped Autonomy. In all, ignoring smaller buys, the company literally ate up $26 billion in value, for negligible incremental returns.
This is a big ship, and will take some sinking before it hits the ocean floor. Meg Whitman is trying her best to speed up the sinking process by hurting at the last pillar of strength left within HP...its exceptional talent pool.
This one is going to be the biggest Kodak moment in the history of the tech industry. And I am not talking photography.