NEW YORK(TIP): Ford’s reorganization could include upwards of 24,000 job cuts, NBC News reported Monday, Oct 8. The automaker has not provided hard figures on the number of employees it will let go, but its leaders have said President Donald Trump‘s tariff war with China could impact the company’s overhaul.

The NBC report cited a Morgan Stanley analysis that estimates a 12 percent reduction in Ford’s global workforce, resulting in the loss of roughly 24,000 workers. Bob Shanks, Ford’s chief financial officer, described the cutbacks as a “redesign” that would include its 70,000 white-collar employees.

With sales lagging well behind its domestic competitor General Motors, Ford has launched a $25.5 billion reorganization plan. It began in earnest in May 2017 when then-CEO Mark Fields was removed.

The company has previously announced it would drop production of its sedan, wagon and coupe models — save for the popular Mustang — and concentrate on SUVs and trucks.

Meanwhile, Ford has found itself regularly at odds with the president. As a candidate, Trump threatened Ford with tariffs when it proposed building a plant in Mexico. The company backed out of those plans and opted to expand in China instead.

The main blow from the Trump tariffs have delivered to automakers has been in the cost they have added to many of the parts they import from China.

(Source: NOLA.com)