Ford: Automaker Ford Motor Company (NYSE: F) decided to hold off production in its Louisville plant in Kentucky for a week owing to the shortage of auto parts. Almost 3,900 workers from the plant will be laid off temporarily. The Kentucky facility produces two of Ford’s SUVs — Ford Escape and Lincoln Corsair.
https://finance.yahoo.com/news/automakers-cut-2021-production-targets-073146183.html
Follow the money.
Do a bit of your own research on who owns companies where money is siphoned (er consulting, joint ventures,etc). Do you see any patterns? Are they Ford family ventures?
Then compare same research to Toyota, GM, Honda
What are the differences?
Do the differences explain why Wall Street doesn’t highly value Ford stock? Changing CEOs does not alter the fundamentals.
So why does the UAW support EV’s? I say bring back the v-8 engines for all vehicles.
Post ID: @3yjy+18RUAW20
Curious, what numbers are you "trying to make work"?
Of course Ford is looking for prayers. Farley thinks we will be generating revenue from data produced by vehicles. We can't even get fully functional vehicles to dealerships, much less figure out how to monetize the data we might eventually get from them. The "Smart Mobility" acquisitions have been nothing but wasted capital.
The sizable new business seemed to be on a wing and a prayer.
I expect sizable salaried cuts in 2nd quarter.
I can’t make the numbers work without sizable salaried job cuts.
If you watched the Town Hall webcast today it provided great insight to where Ford will be focusing resources for the near future. There was a great presentation on the "The Plan".
Disruption and prioritization are the key words repeated over and over again.
Much is changing coming top down in the company. The "new business needs to be sizable".
Yes, I have no doubt there has to be continued downsizing in all areas of FMC.
It will be the only way the company will able to compete in the very disruptive future of the world wide mobility market.
Best of luck to all!
Actually the LL5’s and LL6’s are not very well protected when there are layoffs. In SRD I knew of no GSRs that were released but the LL6 layer took a big hit. There were also some LL5s. In the dark days of the Great Recession some GSRs were lost but the LL6 grade took a heavy hit and lost many of the people who had been recently promoted. When I mentor people who want a promotion I tell them to be cautious about taking an LL6 position unless we are in a booming economy because that seems to be the most at risk level during layoffs.
That will never happen,LL5 and LL6 are too well protected and isolated from any issues that have gone wrong. Just blame some contractors and may be a few direct engineers. Rinse and Repeat.
Ford needs to eliminate at least 20,000 salaried jobs, should mostly come from LL5 and LL6 useless management, in order to be competitive in the global automotive market.
In time the company will continue to downsize. The salaried ranks will come down another 8-10k from what it is today in NA. As for the UAW,, With the rollout of EVs you will see a 30-40% reduction in headcount no more engine /transmission or axle plants required.