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General Motors has already announced plant closings and big job cuts. Ford could be next.Ford (F) said this summer that it was planning to radically reshape its business, and could close or scale back unprofitable operations in some regions. It said it would spend up to billion on the transformation.The company has revealed little detail about its plans. Adam Jonas, the auto analyst at Morgan Stanley, said he believes Ford is preparing to slash 25,000 jobs worldwide. He expects that most of the cuts will be in Europe, where Ford has long struggled, but he said North American plants and workers won't be spared.Like GM, Ford is reinventing itself to compete in an industry undergoing radical change. Both GM (GM) and Ford have said they need to cut costs to invest in the next generation of vehicles, such as self-driving and electric cars."There are bigger forces at work driving global [automakers] to rethink the fundamental idea of supporting increasingly obsolete segments, propulsion systems, and geographic regions," he wrote in a research note.Ford issued a statement on Tuesday saying the "actions will come largely outside of North America.""This includes the targeted and thoughtful approach we are taking to the redesign of our global salaried workforce," Ford said. "All of this work is ongoing and publishing a job-reduction figure at this point would be pure speculation."Ford's sales in the United States are down about 3% this year. It has announced plans to stop selling traditional sedans in North America other than its iconic Mustang, given the shift in customer preference towards SUVs and pickups.The company said last week that it would cut some shifts and 1,150 hourly jobs at two plants, one in Kentucky, one in Michigan. But it also announced it was adding 1,000 jobs at two other nearby plants, and said that all hourly workers whose current jobs were being eliminated would be offered jobs at another Ford plant.Ford had 202,000 workers worldwide at the end of last year, with about half of those in North America and 54,000 in Europe.GM announced plans last week to close a number of plants worldwide including four in the United States and one in Canada. It will also cut about 8,000 white collar jobs. Taken together, those moves are expected to slash 14,000 jobs in North America.While GM said it will offer many of its laid-off hourly workers new jobs at different plants, critics including President Donald Trump have taken the company to task for cutting jobs at a time of strong profitability. 2548
GLOBE, Arizona — Police are investigating a shooting at a Globe, Arizona bar Sunday night that left two people dead.The shooting occurred at the Jammerz bar around 11:30 p.m. local time; police say a lone gunman walked in and opened fire. Four people were shot during the incident, and two of those people were killed. There is no word on the condition of the surviving two victims.One person of interest was taken into custody. Authorities said they are confident the person in custody is the suspect. It appears to be a random act of violence, according to information from police. The name of the suspect hasn't been released and police will update the public at a news conference later Monday.The motive is also not yet known. 748
HAWAII VOLCANOES NATIONAL PARK, HI (KGTV) -- They are photos almost too amazing to be real - people playing golf as an ash plume from the Kilauea volcano rises behind them. Since the beginning of May ash and lava have threatened homes on the big island, but that certainly hasn't deterred golfers. The United States Geological Survey said a recent lowering of the lava lake at the volcano's Halemaumau crater 'has raised the potential for explosive eruptions' at the volcano."RELATED: 518
Hillary Clinton criticized President Donald Trump on Thursday for failing to implement Russian sanctions that Congress passed earlier this year, arguing at a Democratic women's event that the President is shirking America's responsibility.Clinton, in an on-camera conversation with California Sen. Dianne Feinstein, also faulted the Trump administration's policy on contraception, arguing that restricting women's rights to abortion and contraception is saying "women have no right to control their own reproductive capacity." 544
HONG KONG (AP) — Walmart said Thursday it may join Microsoft to buy the U.S. business of TikTok, the popular Chinese-owned video app that has come under fire from the Trump administration.Microsoft did not immediately respond to a request for comment Thursday.TikTok, through its fun, goofy videos, has gained hundreds of millions of users globally.However, the U.S. is pushing its Chinese owner to sell the U.S. business if it wants to keep operating in the country.Walmart said in a statement that a partnership with Microsoft and TikTok could help it expand its advertising business and reach more shoppers. 618