About 1000 Ford employees took the retirements in November. Apparently well below the 3000 targets. Expect more cuts coming.
https://www.freep.com/story/money/cars/ford/2022/12/08/salaried-ford-workers-retire-pension-warning/69708649007/
3 replies (most recent on top)
More cuts either in the form of SIRPs or PEPs will happen in 2023, my guess end of Q1 or 2. Hopefully, a journalist will document how older pension eligible employees are targeted ( Boston Consulting was hired and paid HUGE $$$$$ to develop a ' list ' - my heart breaks for them, if its any solace, it was NOT based on performance, it was a numbers game on Greedy Ford saving some dollars). This has been a pattern at Ford over the last decade. A simple search on Linkedin clearly shows who was cut, retired or moved on.
Farley is the poster child for sociopaths. He's a liar, conniver and will do anything to protect his position. Deering, Rowley, Falotico and so many others did not choose to ' retire ', Farley forced them out. Baumbick is a joke as head of quality, he was part of HACKett's empire ( Farley hated JH! ), he's being set up and will be gone soon - LOL - the id--t gloats how great the pivoting steering wheel that transforms to a table is ( at least until all the quality issues start pouring in and another recall happens ). Josh H is another id--t - VP of JD Power, where everyone knows quality index is bought! Both will be gone soon enough. Louis Victor is also on Jim's sh*t list, billions spent and nothing to show. One of his directors that made printers previously ( obviously, well qualified for a group " dedicated to autonomous vehicle development, mobility services, and startup incubator" ) had his empire decimated. Not looking good for Next. Farley knows alot of eyes are watching him and time's ticking to produce results, otherwise he'll suffer the same fate as Fields and Hackett. doesnt exactly look good for a company that can't keep a CEO for more than a few years. Ford really can use another Mulally. For those of us that have joined in the last 5 years, the patterns of nepotism and lack of direction and decisions are clear. I believed the recruiters lies ( I'm a Berkeley grad ). Let this be a warning and a call to action for those remaining.
I asked my LL if more layoffs are coming. He said that although he is not aware of anything immediate, they will be analyzing everything after the recent retirements and doesn't doubt there will be continuing reshaping of the departments in the future.
Based on Farley’s comments earlier this year, another 4,000 terminations are necessary.