first_imgFord Motor Co said on Wednesday it plans to cut 1,400 salaried jobs in North America and Asia through voluntary early retirement and other financial incentives as the No. 2 US automaker looks to boost its sagging stock price. The move is unlikely to impact India, however, there has been no comment from Ford India yet.Ford shares fell as much as 2.5 per cent in heavy trading and were headed to their worst close since November 2012 as the broader markets tumbled over the political turmoil in Washington.The buyout offers were a fraction of the 20,000 job cuts that some news outlets had reported Ford could announce this week.Ford said the cuts would amount to about 10 per cent of a group of 15,000 managers and other non-production workers and would reduce labor costs for that segment by 10 per cent.The company said a large group of salaried workers would not be covered by the planned cuts, including those in product development and in the Ford Credit unit. The cuts will not apply to Ford’s Europe or South America units.About two-thirds of the buyout offers are in North America and the rest in Asia. Ford does not plan to cut hourly workers or production.The automaker will offer financial incentives, including generous early retirement offers, to encourage salaried employees to depart voluntarily by the end of September. Ford said it expects it will hit the targets through voluntary offers, spokesman Mike Moran said.”Reducing costs and becoming as lean and efficient as possible also remain part of that work,” Moran said.advertisementThe voluntary incentives offers will go to about 9,600 of 30,000 US salaried workers, the company said.In 2016, Ford cut hundreds of white-collar jobs in Europe, reducing costs by $200 million annually.Ford continues to churn out strong profits, reporting a record $10.4 billion in pre-tax earnings in 2016, and expects to earn around $9 billion this year.But investors are worried about slowing sales and an industry that could be dominated by autonomous vehicles and car sharing in the future.The Detroit automakers have been under pressure from US President Donald Trump to add jobs in the United States, but declining US sales and stalled share values are exerting a stronger force.Ford said in January it was cancelling a planned Mexico plant and adding 700 jobs in Michigan.Last month it announced plans to cut costs by $3 billion in 2017. Automakers are trimming expenditures as they brace for slowing auto sales.ALSO READ:Ford launches Figo and Aspire Sports Edition in IndiaALSO READ: Ford named world’s most ethical company for eighth straight yearlast_img read more

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first_imgESPOO, Finland — Kendall Coyne Schofield scored a tournament-leading fifth goal Thursday to help the United States beat Japan 4-0 and advance to the semifinals of the women’s world championship.Cayla Barnes had a goal and an assist and Hilary Knight and Dani Cameranesi also scored for the Americans, who have won the last four world titles and seven of the last eight.Maddie Rooney had 10 saves for her second shutout of the tournament.The Americans took 22 shots in the first period and broke through when Knight scored with 3:12 remaining. Cameranesi scored the second goal on the power play with 10:38 left in the second period, and Barnes and Coyne Schofield, who extended her point streak to five games, finished off the scoring in the third.The United States, which outshot Japan 53-10, will play either Russia or Switzerland in the semifinals on Saturday.Canada will face Germany and Finland plays Czech Republic in the other quarterfinal games later Thursday.TweetPinShare0 Shareslast_img read more

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first_imgCalifornia officials are urging the Navy to show more flexibility as to where it would accept the development of wind farms off the state’s coast, after the department indicated offshore turbines along Southern California and the Central Coast would conflict with testing and training activities. The Navy would consider wind energy development off the coast of Northern California, however. The Pentagon doesn’t have the authority to restrict offshore wind projects in federal waters; that power rests with the Interior Department’s Bureau of Ocean Energy Management (BOEM). But that agency will consider input from DOD before approving development sites, reported the San Diego Union-Tribune.One project off the coast of Eureka in Northern California is going ahead at this point, but another off the Central Coast led by Trident Winds is in “a holding pattern.” Following discussions among the state, DOD and BOEM, defense officials next will meet with developers interested in building turbines off the Central Coast to reach a consensus on a way forward. “We are in ongoing discussions, not only with Trident, but with other developers,” said Steve Chung, the Navy’s encroachment program director for the Southwest region, but the Central Coast “is still red in our assessment.”Offshore wind development from the Central Coast south to the Mexican border would conflict with the Point Mugu Sea Range north of Los Angeles and the Southern California Range Complex. That 120,000-square-mile complex provides space for training, equipping and maintaining combat-ready forces, “supporting the largest concentration of naval forces in the world,” Chung said. The area also is used by the Marine Corps, the Air Force and, to a lesser extent, the Army. Dan Cohen AUTHORlast_img read more

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first_img To embed this piece of audio in your site, please use this code: 00:00 /00:53 Andrew Schneider/Houston Public MediaHouston Mayor Sylvester Turner.The Houston Fire Department is in for a major restructuring. Mayor Sylvester Turner said Wednesday that’s going forward whether or not voters approve a ballot initiative granting firefighters pay parity with police.Many of the changes will focus on emergency medical services, which account for more than 80 percent of department calls. “In some cases we may look at utilizing more civilians,” Mayor Turner said. “It doesn’t necessarily require a classified firefighter.”Turner said a lot more firefighters will lose their jobs if Proposition B passes. Fire Chief Samuel Peña is already reviewing the lists to implement a “step down.”“You know, a captain today with the fire department, under step down, depending on how many captains [Chief Peña] thinks he needs, if he doesn’t need as many as exist today, then some are demoted to the next level, and you keep going down until you get to the rank and file, and then that’s where your layoffs will occur,” Turner said.Marty Lancton, president of the Houston Professional Fire Fighters Association, released a statement suggesting Turner’s action may violate state law.“The mayor’s vindictive obsession with punishing Houston firefighters will be met with a fierce legal response,” Lancton said. “Houstonians should know that the mayor is far out of bounds on this move. Not only will Houston firefighters not allow the mayor to destabilize public safety in our city, but many others will oppose him at the courthouse and at city hall.”The Turner administration projects the cost of implementing Proposition B at roughly $100 million per year. The firefighters’ union says this overstates the cost by tens of millions of dollars.The Houston City Controller’s office, which is independent of both parties, provides the following cost estimate: X Listen Sharelast_img read more

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