Ford to Cut 7,000 Jobs by August, Including 900 This Week

[313WX]

2,300 of those jobs eliminated will be in the US.

https://www.cnbc.com/2019/05/20/ford...this-week.html

[Pat001]

Ford [[just) went through this same exercise in 2006-2009 when they got rid of some 40,000 employees and closed 13 plants.

The firings will continue until morale improves...

[Honky Tonk]

Ford [[just) went through this same exercise in 2006-2009 when they got rid of some 40,000 employees and closed 13 plants.

The firings will continue until morale improves...

Bye American...

[Pat001]

Bye American...

My sources tell me tomorrow [[Tuesday) is notification day.

[313WX]

My sources tell me tomorrow [[Tuesday) is notification day.

That's what the Detroit News is reporting.

FWIW, Ford has been laying off salaried workers for the past 2 months already.

https://www.google.com/amp/s/amp.det...amp/3152682002

So these cuts are likely in addition.

[Pat001]

Press release from Bill Ford about how the decision to fire employees is always "difficult and painful" in 3...2...1...

[313WX]

State taxpayers gave Ford $240M, then it cut 800 local jobs


https://www.metrotimes.com/news-hits...800-local-jobs

[davewindsor]

Bye American...

Article said, "This round of layoffs won’t impact Ford’s hourly factory workers."

It's not like they're shutting down American manufacturing plants like GM.

"Bye American" is GM's motto.

[Honky Tonk]

Article said, "This round of layoffs won’t impact Ford’s hourly factory workers."

It's not like they're shutting down American manufacturing plants like GM.

"Bye American" is GM's motto.

GM is a cesspool.

[O3H]

Detroit hasn't learned its lesson yet. Diversify away from automotive to survive and prosper.
It has zero to do about loyalty and everything to do with profit and stockholders.

[Honky Tonk]

Detroit hasn't learned its lesson yet. Diversify away from automotive to survive and prosper.
It has zero to do about loyalty and everything to do with profit and stockholders.

Has Warren learned it's lesson yet? How's that walkable downtown coming along? Has Fouts started it yet?

[archfan]

Detroit hasn't learned its lesson yet. Diversify away from automotive to survive and prosper.
It has zero to do about loyalty and everything to do with profit and stockholders.

Well, to be fair, no corporation is truly loyal to its employees. It just took longer for folks in the automotive industry to realize that.

[Zacha341]

And yet they are affording the rehab of the Michigan Central Station?

https://www.crainsdetroit.com/real-e...entral-station

Bye American...

[Zacha341]

Hah! Folks walking or not will not change much, where ever you work or attempt to work [[to arrive on time).

Just maybe more used cars purchased, however I see plenty of Dodge Chargers racing about in the D.

Let the good times roll for Chrysler Dodge [[for now).

Has Warren learned it's lesson yet? How's that walkable downtown coming along? Has Fouts started it yet?

[DetBill]

Does anyone know how this will affect the Michigan Station project ? I was told many of the jobs there were to be engineering related..

[313WX]

Hmmm...

Bigger cuts expected: 23,000 more Ford layoffs needed, analysts say



https://www.freep.com/story/money/ca...ts/3754205002/

The math doesn't seem to add up.

Analyst Adam Jonas of Morgan Stanley is among those who say Ford Motor Co. cannot reach its stated profit goals for "Smart Redesign" by laying off just 7,000 salaried workers total worldwide by August.

The company must cut "a further" 23,000 salaried jobs in the near term to fulfill its goals, Jonas wrote Tuesday.

"Ford disclosed that the 7k headcount cuts will save $600 million annually, or an average of $86k per worker," said an investment report dated May 21. "Our [[calculations) ... require more than a further 23k salaried headcount reductions."

“The bottom line is that Ford’s announced job cuts are absurd," said market analyst Jon Gabrielsen, who advises automakers and auto suppliers. "No one who analyzes the Ford situation believes that 7,000 job cuts remotely scratches the surface of what will be required for Ford’s long-term longevity."

He added, "Adam Jonas, the most respected analyst in the business, estimates that Ford will need to cut an additional 23,000 salaried workers through 2022, for a total of 30,000 since late 2018. My own estimate, arrived at separately and before his report came out, indicated an additional 22,000 cuts would be needed."

[O3H]

I'm but 1 out of 100,000+ in Warren, BUT I see what 313WX sees.
Many articles claim Automotive is not all roses and caviar.

Experts continue to predict U.S. light vehicles will fall
in the range of 4% in 2019 to 16.6 million and may fall even further in 2020.
SUV sales will account for half of all U.S. new vehicle sales in 2019.
The autonomous thing is a LONG way down the road, still a dream, a hope.

[Maof]

Does anyone know how this will affect the Michigan Station project ? I was told many of the jobs there were to be engineering related..

I'm assuming it will be fine as it will be the "innovation campus" for autonomous and electric vehicles including design, marketing and business.

[Honky Tonk]

Does anyone know how this will affect the Michigan Station project ? I was told many of the jobs there were to be engineering related..

You'll be fine as long as you move to a different country, delare citizenship, and get your H-1B Visa.

[Zacha341]

What? Are they bleeding out [[going out of business)?

Hmmm...

Bigger cuts expected: 23,000 more Ford layoffs needed, analysts say

https://www.freep.com/story/money/ca...ts/3754205002/

[Cincinnati_Kid]

Well, to be fair, no corporation is truly loyal to its employees. It just took longer for folks in the automotive industry to realize that.

Bingo, nail on the head !! Loyalty is considered a cuss word now.

[Smirnoff]

Is Ford still blaming owners for the POS dual-clutch transmission failure[[s)......maybe another great customer service award[[s).

[O3H]

Are union workers still blaming someone other than themselves ....

[Burnsie]

Any "loyalty" companies showed disappeared in the 1980s when Reagan and his gang deregulated Wall Street. It was largely a mirage anyway, made possible only by the temporary strength of unions. Ford wasn't exactly "loyal" when Harry Bennett and his thugs ruled the roost.

[oladub]

Everyone like smart stuff. Whenever "smart" is used as an adjective e.g smart growth, smart metering, smart redesign to sell something, its like putting lipstick on a pig.