Which means we'll be looking at more layoffs most likely sooner than we thought.
Ford Motor Co’s (F.N) July-to-September vehicle sales in China fell 30%, as the U.S. automaker continued to lose ground in a prolonged sales decline in its second biggest market.
https://www.reuters.com/article/us-ford-china/fords-china-sales-decline-again-despite-new-models-idUSKBN1WQ0QW
Pretty sure sales for most American brands are down in China atm. Doesn't matter what you are selling. The anti-american sentiment is growing in China.
Why bother PRPing the older pension folks? Send them out the door right away. PRP program is a sham anyway - at least it was for me and the folks in my peer group. It was like free money for 6 months of surfing the net while my replacement did my job (and oh by the way - he was fired in May too!). He had like 25 years in.
So sad
"Ford does not have the luxury of having people hang around for 6 months on a PRP. They need to drop heads quickly under these conditions to get the stock above $9.00."
Understood - however the ones they get the biggest bang for have more than 20 years of service. They end up getting 9 months severance anyway, shed pension contributions going forward, trade a higher salary for a new hire in the future, and healthcare costs potentially go down.
A PRP with a boost for 55+ yoa 10 year minimum was the last offer. Why do you think they had the criteria they did?
Does it have anything to do with getting rid of most of their car line and forcing people into those cross-overs? Ford no longer offers any vehicle I would want.
Does it have anything to do with the price of vehicles? The price of a new vehicle is almost a second mortgage. I'm holding on to my 10 year old vehicle as long as possible.
Ford does not have the luxury of having people hang around for 6 months on a PRP. They need to drop heads quickly under these conditions to get the stock above $9.00.
Hope they have PRP with a kicker or a flat out offer to go.