Does anybody know where this originated? Can we rely on this info or are people just sharing their guesses or hunches as fact?
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@buc Ford needs to eliminate 25,000 salary jobs just to be competitive. Agency and Purchased Services don’t count against that needed number.
ok fine, take out that 1000. We are still at 4000-5000 job cuts already.
There will be no big bang. Ford is trying to do this under the radar. Then next year Farley can take his fat a-s before an investors and claim "We've eliminated 8000 salaried jobs!" And everyone will be going "what? When?" And will show the numbers of salaried employed March 1st 2022, vs March 1st 2023 to prove it.
But for anyone to suggest that nothing has occurred yet, you aren't paying attention.
I'm not sure where you're getting your numbers, but any role that was a purchased service is NOT considered a reduced head. Purchased service budgets have been getting cut, but these are dollars, not heads. So, the 1000 PS resources you mentioned do not count. Also, if any of the 1300 or 700 'jobs' you mentioned are purchased services, they don't count either. Any 'more than likely' estimates are just that...estimates.
Why people don't understand that purchased services are not heads is beyond me.
To the OP, this is a rumor. Mainly because things have already happened! I don't know why so many posters here do not understand that.
There was a layoff in Model-e in April. ~1300 jobs
There was a layoff in Ford Blue in May. ~700 jobs
There were contracts not being renewed for ~1000 Purchased Service resources.
There were several rounds of Agency cuts in several departments. The numbers here are fuzzy but I have heard about 700 cuts.
Couple that with all of the jobs that haven't been backfilled and you are well over 4000 cuts already and more than likely in the 5000-6000 range.
There will be NO big job cut. It will continue to be smaller cuts that float just under the radar but will eventually total ~8000 total (including the numbers above).
Why people aren't getting this is beyond me.
If you don't already know the impact of the interest rates on your lump sum you are living in a cave... The good engineers know what is coming... 20-30% hit and even on the low end it will be 2 years pay. Those lump sum dollars are pre tax too. I don't see interest rates getting as low as they did unless monkey pox gets out of control.
There is the 30 plus crowd that has been watching things for years and they are going no matter what. There is the 30 plus group that is drinking the kool aid and will be dragged out kicking and screaming and there is the 28-29 yr crowd that hopes any deal will add years to their service. Then you have the life event folks that will never really be able to retire... did not save enough, got divorced, to many mooching kids, couple lease cars, credit card debt, sh-t health... They probably will take a pension.. Bottom line there are not that many of us to really make a difference... Maybe 2000-2500 at or above 30 yrs... the other 7-9K are between 18 and 29 yrs... the other 20K are in the FRP.
It takes 5-10 years or 2-3 programs to get good at your job and the last 3 years have been really tough at training the new kids. They need to be careful how deep they cut.
Undoubtedly, those of retirement age are waiting to see the August IRS interest rates, as such will let them calculate the degree of reduction of their pension if they choose not to retire. I suspect many will voluntarily retire, as lump sum pensions are speculated to drop significantly (20-25%).
What happen to treat each other like family and open communication? Ford leadership is a JOKE! Anyone staying “focused”, meeting deadlines, working hard, etc. are fools.
The person I talked to who IS in the now hinted that it is the end of Aug....or September. Signed NDA so can't say anything.
My area did have an all hands meeting last week. The person who conducted the meeting is in the know. And uninspiringly claimed not to know anything and said they "think" everything is on the table. Significant re-orgs, layoffs (which are firings...the word layoff is silly), moving people to new areas, etc. This was not an all clear and left me feeling like the hammer is about to drop. Which aligns to the hints I have been told by those in the know.
So yes, nobody on this board really knows. Or at least cannot tell anyone for fear of legal action. But my 2 data points point to ugliness occurring in a few weeks. Do I know for sure? Obviously not.
That's good, more days on the payroll before severance pay starts and more time to update the resume and start looking for a new job.
Whatever happened to all-hands meetings? Would that be paying your employees too much respect to fill them in?
I guess it doesn’t matter burning bridges when you’re sending their work overseas anyway.
Rumor I heard is that cuts were happening this Thursday Aug 18.
Nobody knows anything yet. It could happen this week or next year, for all we know.