Auto cutbacks will not stop with GM. A major investment bank predicts deep cuts are coming at Ford.
The expected Ford restructuring would be more extensive than GM, according to analysts at Morgan Stanley.
It could involve tens of thousands of workers.
Morgan Stanley used financial data it has from Ford and compared them to GM’s expenses in the cutbacks announced last week.
The bank concludes that Ford is next in line with big layoffs, reflecting an industry-wide phenomenon.
Ford already announced a restructuring with 7-billion dollars in costs, but has not given details.
Morgan Stanley says Ford could issue 25-thousand layoffs, with a large portion in Europe.
The analysts emphasize that Ford has given no indication of layoffs or plant closings.
