“Ford’s announcement of 20,000 global layoffs to streamline and cut costs is a typical strategy of large corporations who need to pivot to stay competitive,” John A. Challenger, CEO of Challenger, said Thursday morning. “As consumers demand electric and self-driving options, traditional automakers will need to adapt.”
Ford’s spokeswoman called these claims out, telling CNBC: “We expect 1,400 salaried positions to be affected. This action does not affect the following skill teams: manufacturing, product development, IT, Global Data and Analytics and Ford Credit.”
Retailers still had the most job cuts this year — 55,910, including 5,777 in May, according to Challenger’s report.
The above figures represent job cuts for 2017.
Source: Challenger, Gray & Christmas
Apparel stores are not the only retailers cutting jobs, either, the report went on.
The retail industry is starting to see more of its cuts stemming from grocery stores for the first time, Andy Challenger told CNBC’s “Squawk Box” Thursday morning. “You’ve seen the Jet.com purchase by Wal-Mart … e-commerce is coming to the grocery stores as well.”
“Grocery stores are no longer immune from online shopping,” Challenger wrote in its report.
“Meal delivery services and Amazon are competing with traditional grocers, and Amazon announced it is opening its first ever