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Found 12 results

  1. Nissan is forcing employees to go without pay for two days at the beginning of January 2020 by remaining closed on the 2nd and 3rd of January. The move equates to a 9.2% pay cut for those paid monthly. In addition to the pay cuts, Nissan is cutting travel expenses by half effective immediately. All of Nissan's US operations, including Infiniti an Nissan Motor Acceptance Corp, the company's in house financing unit are included in the shut down. Nissan has been plagued with falling sales in the U.S. with the entire group falling 16 percent in November. Nissan brand fell 13 percent and Inf
  2. Nissan is forcing employees to go without pay for two days at the beginning of January 2020 by remaining closed on the 2nd and 3rd of January. The move equates to a 9.2% pay cut for those paid monthly. In addition to the pay cuts, Nissan is cutting travel expenses by half effective immediately. All of Nissan's US operations, including Infiniti an Nissan Motor Acceptance Corp, the company's in house financing unit are included in the shut down. Nissan has been plagued with falling sales in the U.S. with the entire group falling 16 percent in November. Nissan brand fell 13 percent and Inf
  3. Ford reported first quarter operating earnings of $801m, up $160m over the same quarter last year. The company says that it expects this quarter to be the strongest quarter of the year due to seasonal factors and major product launches later this year. However, the company says it still expects to finish 2019 better than 2018. Outside of North America, Ford is still losing money, but those losses are shrinking. Ford recently announced a restructuring plan for Europe that included over 6,000 layoffs. Also in the earnings report, Ford revealed that the company is subject to a crimi
  4. Tesla posted a $722M loss for the first quarter of 2019, higher than analysts expectations. This was a swing from a 4th quarter 2018 profit of $139.5M. Cash on hand is $1.5B lower than end of 2018, now $2.2B, partially due to a one time payment of $920M in convertible bonds that came due. Tesla says that is built 63,000 model 3s in the first quarter gearing up for overseas sales, though only 12,100 of those vehicle were delivered. Tesla is maintaining its projections of 360,000 to 400,000 vehicles total for the year. Tesla recently announced updates to its Model S and Model X vehi
  5. Ford reported first quarter operating earnings of $801m, up $160m over the same quarter last year. The company says that it expects this quarter to be the strongest quarter of the year due to seasonal factors and major product launches later this year. However, the company says it still expects to finish 2019 better than 2018. Outside of North America, Ford is still losing money, but those losses are shrinking. Ford recently announced a restructuring plan for Europe that included over 6,000 layoffs. Also in the earnings report, Ford revealed that the company is subject to a crimi
  6. Tesla posted a $722M loss for the first quarter of 2019, higher than analysts expectations. This was a swing from a 4th quarter 2018 profit of $139.5M. Cash on hand is $1.5B lower than end of 2018, now $2.2B, partially due to a one time payment of $920M in convertible bonds that came due. Tesla says that is built 63,000 model 3s in the first quarter gearing up for overseas sales, though only 12,100 of those vehicle were delivered. Tesla is maintaining its projections of 360,000 to 400,000 vehicles total for the year. Tesla recently announced updates to its Model S and Model X vehi
  7. BMW has issued a profit warning for 2019, saying that profits will be well below last year's 7.2€ billion. The company stated that higher raw material costs, unfavorable currency exchange, and compliance with stricter emissions standards are the main causes for the profit erosion. BMW is not planning for layoffs at this time, but those could come in the future as the company moves to simplify and consolidate its product portfolio. One area that will see cuts is in powertrains. BMW plans to cut the number of engine/transmission options in half and simplify platforms in a move to streamlin
  8. BMW has issued a profit warning for 2019, saying that profits will be well below last year's 7.2€ billion. The company stated that higher raw material costs, unfavorable currency exchange, and compliance with stricter emissions standards are the main causes for the profit erosion. BMW is not planning for layoffs at this time, but those could come in the future as the company moves to simplify and consolidate its product portfolio. One area that will see cuts is in powertrains. BMW plans to cut the number of engine/transmission options in half and simplify platforms in a move to streamlin
  9. Jaguar Land Rover is readying a new plan that will see them cut 4.5 billion pounds (about $6.8 billion) in costs by 2020. According to Reuters, the plan dubbed Leap 4.5 will see the British automaker consolidate models to a small number of core platforms, overhauling the supply chain, and slow down/stop recruiting new people to the company. At the current time, there are no plans to layoff people. Why is Jaguar Land Rover putting forth this program? It comes down to the automaker's fastest growing market, China. Sales in the second quarter of this year dropped 32 percent due to a number of
  10. Jaguar Land Rover is readying a new plan that will see them cut 4.5 billion pounds (about $6.8 billion) in costs by 2020. According to Reuters, the plan dubbed Leap 4.5 will see the British automaker consolidate models to a small number of core platforms, overhauling the supply chain, and slow down/stop recruiting new people to the company. At the current time, there are no plans to layoff people. Why is Jaguar Land Rover putting forth this program? It comes down to the automaker's fastest growing market, China. Sales in the second quarter of this year dropped 32 percent due to a number of
  11. By William Maley Staff Writer - CheersandGears.com January 30, 2013 Today, Chrysler announced its earnings for 2012 and the results are staggering. The company reported a net income of $1.7 billion, up substantially from minuscule $183 million profit earned in 2011. Chrysler also saw their 4th quarter net income increase from $225 million in 2011 to $378 million in 2012. The massive increases is due to Chrysler's market share increasing to 11.4%. Chrysler also unveiled a updated product plan for all of its brands. The big news is that Chrysler and Dodge have dropped their Fiat-based models
  12. By William Maley Staff Writer - CheersandGears.com January 30, 2013 Today, Chrysler announced its earnings for 2012 and the results are staggering. The company reported a net income of $1.7 billion, up substantially from minuscule $183 million profit earned in 2011. Chrysler also saw their 4th quarter net income increase from $225 million in 2011 to $378 million in 2012. The massive increases is due to Chrysler's market share increasing to 11.4%. Chrysler also unveiled a updated product plan for all of its brands. The big news is that Chrysler and Dodge have dropped their Fiat-based models

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