Are layoffs gonna continue in the same manner or has yesterday and today been the ;peak days of this wave? Does anyone have any concrete info about tomorrow?
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It is hard to know what to believe. After how long of listening to the Hackman's grand plan it actually starts to come to fruition, our cuts are actually less than GM's, our stock is on the way up, the new lincoln's all look pretty sweet, hoping for good things from new bronco, baby bronco, raptor bronco, ranger looking good - still would have liked to see focus st jacked up like a subaru here but ... - and then the analysts - with very good math - start saying we have to cut 20k plus more and here is why. Our global market share has taken a SH*t. This is definitely not done.
Yes 20000 more cuts is accurate
Just read an article stating that the redesign won’t be completely finished until August.
Not going bankrupt in 2008 and wiping out debt like GM and Chrysler is a big part. UAW labor costs 50% higher than foreign nameplates' US based plants is a huge part. Complete failure to penetrate China, the world's largest car market due in no small part to the underlying labor costs is also a major factor. Declining US sales and disposable incomes for a variety of reasons like reliability, Retail saturation, lack of millennial interest in driving, luxury, and patriotism is also in play.
I think you are right!
Yes, it continues tomorrow. Not all departments have gotten the "all safe" letters from their bosses. Organizational structures changed for a lot of people. New org charts will roll start to roll out Friday. Older people who were let go were offered other jobs as alternatives I have heard. People with over thirty years and a proper pension got to retire and get severance. A lot of TS's were hit and/or demoted. The articles about needing 20 000 more cuts today caused anxiety. The stock went down. No bump which will be a problem. The worst of the analyst's articles said the math does not add up. What got us into this? Not being able to do math ie finance. So yes there will be more of this. And this is the new normal. Also those who are left will feel the need to make themselves useful or ingratiate themselves to managers.