Ford CEO said a lot of things, but no action. This is why the company Is in the toilet. None of what Farley said was implemented.
https://www.cbsnews.com/detroit/news/fords-farley-cut-costs-improve-quality-and-boost-margins-through-software-and-services/
This company is in the sh-t hole.
Companies have been selling out your American jobs and your Government has been letting cheap labor come across into the USA for the past years.
"Good Times Create Weak Men, Weak Men Create Hard Times"
@1ucz+1r7NlJ2Z is correct below.
It's only a matter of time because this plan has been in play for sometime.
The EV dream............Lol
As Mulally said something like you can not achieve greatness by simply cutting costs.
You have to Invest in the future which means:
The worst thing to do is get a bean-counter firm to figure out who to layoff. They will end up firing the best.
RE: @gni+1r7NlJ2Z (unless they are considering moving some production to Mexico)
Regarding engineering jobs to support MEX MFG: Our commander-leader-director openly showed us 3 months back the 2024 goals of moving 19 jobs to the 'Global Center for Technology and Business' (GTBC) and had a stretch goal listed to the right of that of 24 heads.
The company invested $260M in that facility and calculating the salary & fringe benefits, the savings per person is over $96k. How many jobs does mngt need to move to make the business case to justify the new building?
Personally I put any thoughts of a new vehicle on hold and will make mine last while working on a plan to get out of this TOXIC Atmosphere where the ultimate measure of success is to get rid of the USA workers, the more they move/fire, the more they save. Also equating to higher profitability and profit sharing.
Farley also su-ks - just thought I would throw that in here.
Last time, Ford talked about cutting cost by 2-3 billions. It actually cut about ~2000 employees. Salaries are not all the cost. I would expect this year's layoff is around 2000. Just my estimate.
$2.5 billion at an average salary of $120k would mean you’d need to cut about 21k jobs, which would be impossible unless they are considering moving some production to Mexico.
Kumar the politician COO already said in earnings call on Feb 6th 5bil in 24 for cost cuts - 2.5bil from supply chain and other 2.5 bil in efficiency (I read it as job cuts)