Ford is ending production in India and taking a $2 billion hit in the process
CNN
Ford is ending production in India and taking a hit of $2 billion as it retrenches from a market that has been almost impossible for American automakers to break into.
In an announcement Thursday, the company said that roughly 4,000 employees will be laid off and manufacturing will end immediately. CEO Jim Farley said the move was "difficult but necessary" to achieve long-term growth. "Despite investing significantly in India, Ford has accumulated more than $2 billion of operating losses over the past 10 years and demand for new vehicles has been much weaker than forecast," Farley said.
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President Donald Trump has said ICE agents will head to US airports tomorrow amid a partial government shutdown. Follow for live updates
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President Donald Trump has said ICE agents will head to US airports tomorrow amid a partial government shutdown. Follow for live updates
President Donald Trump said Sunday border czar Tom Homan will be in charge of deploying Immigration and Customs Enforcement agents to airports on Monday, with Homan telling CNN the agents will assist with security at entrances and exits to ease TSA workload amid a partial government shutdown.
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