Can anyone else see see a problem?
GM: sold 2,258,429 vehicles in 2022, earned $10 billion with 167,000 employees
Ford: sold 1,850,925 vehicles, lost $2 billion with 180,000 employees
Ford has at least 13,000 more employees and $12 billion less earnings, global vehicle sales volume is declining and our share of that market has been declining since Farley was hired in Marketing. Add in poor credit ratings and it is clear that this isn’t going to end well.
i had a 2017 ford escape with the small 4 cyl and a turbo, didn't last 25K before the engine died. I hope the newly designed small 4 cyl lasts at least 100K. But if i bought a Honda i could get 400K, wow!!! that is telling with cars so expensive today its an easy choice to buy Honda, or Toyota.
Sorry i can't lie, as for EV's..............................they will go the way of the dinosaur when people begin to wake up, let alone they are too expensive.
And to make matters worse the huge youtube star Scotty Kilmer says don't buy anything but Honda, & Toyota. Definetly do not buy any 4 bangers with turbos, as they run too hot and wont last 120K, where as Hondas non turbo 2.5 liter 4 bangers can go 400K if maintained.
The us companies should fall back on continous improvement, like Japaneses companies instead of so much re-design. Change 1 thing and it creates 10 issues. Not rocket science, but some people like CEO's never learn.
@3mok seeing that as well. As part of the agreement to fall on the sword, they are brought back as contractors. They contribute at the same levels as when they were employees, which is to say you are lucky if they are a zero contributor, not one that is a net negative contributor.
Another little phenomena is for the house frau of a LLx who fell on their sword being hired as Project Manager (in name only).
It’s sad that these behaviors no longer shock me. Just more of the same.
Not only do we need to lose LL's, we need to actually lose them. Where I am, the ll5 and ll6's came back as contract.
Ah yes the exceptional leadership promoting the “all-in EV” strategy and hoping to prop it up just long enough for their stock options to vest so they can dance out the door.
Let’s all take a moment of silence to acknowledge the thousands sacrificed by the exceptional leadership in pursuit of their personal wealth and also the thousands of additional candidates for the upcoming “right sizing”.
@1epo+1mk7UXGW. So you are saying that bad business (management) decisions that lose BILLIONS in one time charges don’t matter? Here’s a clue: they do!
OP- To be fair , Ford lost $2B mainly due to special charges related to Rivian and Argo AI
Ford made 8B + before applying the one time charges.
The profit sharing was computed before applying the charges and that is why we got a sizable AICP amount
If not for EV’s losses, we would have got a bigger profit sharing check.
@kzx - of course not. I understand we are a global company. We continue to lay off US salaried staff, we are always hot the hardest.
Unless we have an idea of the number of contract employees and what GM and Ford both outsource, it’s difficult to draw any conclusions.
@OP - Ford had $173k employees in 2022 https://www.statista.com/statistics/297324/number-of-ford-employees/
@ioe+1mk7UXGW so you think only US employees are to be considered? The offshore employees are numerous.
GM had 58,000 salaried in the US pre the latest buyouts which were about 5k.
Ford had approx 31k in the US pre Aug 2022 layoff plus many people retired. More than what we anticipated, or so I heard.
How many more do we need to cut in the US? We already have significantly less then GM.
To be fair, Ford earned $8B, not lost $2B last year.
It was anticipated to earn $10B but 4th quarter came up short.
Question: last year cuts were made April 27 (a Wednesday before end of month)…
Will this years April have a round of cuts? Is there still 5000 to go?
Investors are well aware and the stock continues to drop. Farley is a fake, no achievements, other than sucking a$$ and back-$tabbing his way to CEO ( ugh, just typing it made me want to throw up! ). Over the the last few years, its obvious most of the folks that understood how to dev., engineer, design and bring a vehicle to market are gone ( note : the majority were over 50 and pensioned ! ) Whats left are inexperienced brought in from companies like HP, Renault, Disney, etc as well as those favored through nepotism. We're loosing the ability to manufacture a quality vehicle and Doug Field is a consequence of Ford's failures. EV, data, subscription all talk, EV development is behind, programs are being cancelled or delayed and all thats been produced for data/ subscription are meaningless ' how might we ' decks. If a transformation is to happen, start with terminating anyone without automotive experience and please add K Robinson to the list. IMO, one of the most unethical, evil people I've ever encountered. Add ALL the LL5/4/3/2 from Next and maybe we have a chance.