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Ford and JLR to cut thousands of jobs

The U.S. headquartered automotive manufacturer Ford is pursuing a US$14 billion global cost-saving plan and has announced plans to cut jobs in Europe. Similarly, automotive group Jaguar Land Rover is to cut 4,500 jobs globally but most affected in its home UK market.

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Faurecia to open new U.S. production facility

The French automotive parts and seating Group has announced a +34% rise in profit in full 2017, with net income reaching €714.5 million, and plans to open a new manufacturing facility in Blue Springs, U.S. state of Missouri, part of the Kansas City area.

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India’s footwear exports hurt by crackdown on abattoirs

The aim of India’s Modi government to create millions of jobs by more than doubling the leather industry’s revenues to US$27 billion by 2020 will not be reached as the country’s footwear export industry has been hit by the recent crackdown on abattoirs.

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Beef segment to boost Tyson’s FY2017

American multinational Tyson Foods has announced increased adjusted guidance for fiscal 2017, adjusted guidance for fiscal 2018 and cost savings targets for 2018-20, which includes eliminating around 450 jobs.

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Volkswagen to cut 30,000 jobs

The automotive manufacturer announced it plans to cut 30,000 jobs worldwide, of which 23,000 in Germany, as it paves the way to “the biggest modernisation programme in the history of the group's core brand".

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