AICP LL4 & Above = ? %
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Any news about layoffs based on performance?
Comparing year over year is stupid.. Q4 was only good compared to last year because of the strike. Q4 was not that good historically. And Q1 of this year is off it a terrible start.
Remember, every EV we sell we lose $50k!! Luckily the volumes are still a pittance. At this point we'd be better off just shutting down all EV programs and production. But Billy will never do that in the name of Gaia, his deity.
This company is headed for the cr-pper.
Weren’t we at 69% at the end of Q3. And then we had best Q4, highest EV sales, highest revenue ever. Beat most of the targets for the year. How is still 69?
We had the worst Q4 last year with strikes and border delays. This year we had one of the best Q4. We beat last years Q4 numbers in October itself. Something is not right
"What happens to the ones who don't get the bonus?"
You don't get the bonus. Not complicated.
What happens to the ones who don't get the bonus?
69% effort or less folks
The Board of Directors of the Company expects that Ms. House will be appointed Chief Financial Officer of the Company after a period of transition working with Mr. Lawler. Mr. Lawler will continue solely as Vice Chair after the transition.
In connection with his appointment as Vice Chair of the Company, the Compensation, Talent and Culture Committee of the Company’s Board of Directors (the “Committee”) took the following compensation actions with respect to Mr. Lawler:
•Approved an increase in his annual bonus target to 150% of his unchanged base salary of $1,242,077;
•Approved an increase in his annual stock award target from $4,000,000 to $6,500,000;
•Approved an increase in his Defined Benefit Supplemental Executive Retirement Plan Contribution from 0.8% to 0.9%; and
•Authorized Mr. Lawler to use Company aircraft, subject to the Company’s policies for personal use.
In connection with her appointment as Vice President of Finance, the Committee took the following compensation actions with respect to Ms. House:
•Approved a base salary of $900,000 (pro-rated for the portion of the year Ms. House is employed by the Company);
•Approved an annual bonus target of 125% of her base salary;
•Approved an annual stock award target of $5,000,000, to be paid pursuant to the Company’s 2023 Long Term Incentive Plan. The award will be paid 40% in restricted stock units and 60% in performance stock units with the same terms and conditions as awards made to other officers of the Company as described in the Company’s 2024 Proxy Statement, which was filed with the Securities and Exchange Commission on March 29, 2024; and
•Approved a sign-on bonus of $4,250,000 that will be paid $1,250,000 in cash and $3,000,000 in restricted stock units under the Company’s 2023 Long Term Incentive Plan, with $1,500,000 of such restricted stock units vesting immediately and the remainder vesting on the first anniversary of the grant date.
Ms. House will also be entitled to standard relocation expenses under the Company’s relocation policy for new hires.
The sooner you realize the bonus is subject to changes, just like last year when they made 90 percent the new 100 percent after the targets were set. There is no honesty or transparency in the process. You get what you get, and need to be grateful for whatever that is. Heck, my chief engineer told my supervisor to re-rank her team, a clear indication that it's not what you do, but who you know, or who knows you. Also, I can expect to interact with no less than 4 supervisors per day, only one of which actually has anyone reporting to them in reality, but on paper they look like all stars.
What will LL5+ get? Back to the 150% days for them? Sounds do-able with only 69% or less for the proletariat.
So glad I'm in my last year. I'll give them their 69% alright. Bell to Bell baby. What are they going to do? Give me "Inconsistent"!! Fu*k Farley and the rest of his "Useless" Leadership Team. I only feel sorry for those that I've worked with over the years and will be leaving behind.
People, 80 to 90% of you are getting nowhere near 69%. Unless you are a 2,3 3,2 or 3,3 your personal factor will be well under 100%. Count on 50 to 60% of your target. I have seen the hcm tables.
You can rest easy knowing UAW workers are getting bigger checks than LL6s. Yet the Mexicans are happy to work for $50 per day…
"if you get one" is right...
Our department was mandated to rate most as 1's, with a couple 2's thrown in.
Remember 2022? Maybe if we all go on strike they'll double it to 138%!
Who is with me?
So if my calculations are correct, an LL6 with HTHD designation will get ~$15k before tax. Which means just over $10k after taxes.
Congratulations to us!
What is 6.9?
A good thing ruined by a period.
Gotta pay for those $10k UAW profit sharing checks somehow!
Ford did us dirty
I wish it was more, but it is better than nothing. Many people around the world don't get $1 extra.
Well, to quote JF, it's 69% "if you get one."
What a great day...called this when last JF note came out same topic. UAW $10k plus, much higher based on clocked hours. 69% is a slap in the face over LL2+ decision making to include JF, BOD, BF. Way to go senior leadership!
Could have picked 68 or 70 but the 69 is def a clear message
Remember the massive drop in BPF from Q2 to Q3. It was mathematically impossible given the public financials reported at the time. There was a very clear and metric based comment on the internal home page last year in that timeframe which spelled it all out. Clearly they are putting their finger on the scale to sc--w us on bonuses. Fu-k Ford management.
Earnings were not down 31 percent.
Watch the brass in the c suites will get compensation bonuses based off meeting financial targets for withholding the bonus multiplier.
We can't build cheaper vehicles. Perhaps this is the only lever they can pull the save the company money. Can I suggest hiring GM executives, at least they are a legacy automaker making progress towards profitable EVs.
Revenue all time high, profit near all time high, Shareholders get a $0.15 supplemental plus $0.15 regular dividend, and employees get 69% of bonus target.
Nice
I mean it's not a surprise.
The fu-k were they smoking? Give us 100% at least. We aren’t expecting 144% like GM but don’t insult us with that number.