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Ford To Cut North America, Asia Salaried Workers By 10 Percent (reuters.com)
Ford is planning a major round of layoffs that will cut up to 20,000 jobs around the world, according to reports published Monday. From a report: Ford plans to shrink its salaried workforce in North America and Asia by about 10 percent as it works to boost profits and its sliding stock price, a source familiar with the plan told Reuters. A person briefed on the plan said Ford plans to offer generous early retirement incentives to reduce its salaried headcount by Oct. 1, but does not plan cuts to its hourly workforce or its production. The move could put the U.S. automaker on a collision course with President Donald Trump, who has made boosting auto employment a top priority. Ford has about 30,000 salaried workers in the United States. The cuts are part of a previously announced plan to slash costs by $3 billion, the person said, as U.S. new vehicles auto sales have shown signs of decline after seven years of consecutive growth since the end of the Great Recession.
#MAGA
"as it works to boost profits and its sliding stock price,"
Ugh... why can't businesses go back to the model of taking care of their employees and figuring out how to build better products to increase profits and their stock instead of always going for the short-term solution of axing payroll....
I'm not exactly sure how this is nerd news. There's no mention of advanced technology drivetrains, or self-driving vehicles, or even robots taking our jerbs.
This is a pretty typical corporate strategy to reduce expenditures, and if it's based on things like wilful retirement bonuses and severance bonuses for those not eligible for retirement yet, then it's pretty benign and almost a non-story even in business circles. It's a way to reduce the number of top earners without generating a lot of ill-will, people get to retire early, they get some bonus for it, generally most employees aren't unhappy with the arrangement.
Do not look into laser with remaining eye.
If they want to avoid the ire of our President when they only lay off Americans. It sounds like I'm joking but I'm not - this is the type of perverse unintended consequences that government intervention brings.
so much winning
So, ICE sales are dropping all over the world,but EVs, esp Tesla, are rising fast.
I have to wonder if the car makers executives will understand that they really have to jump on this and make changes NOW.
I prefer the "u" in honour as it seems to be missing these days.
Comrade Trump wants to plan the economy, but the poor guy is nearly a century late for the Bolshevik revolution. People are probably wondering why Republicans nominated what would turn out to be the furthest-left president since FDR. It started like this...
Republicans used to try to trick voters into thinking they were conservatives, because Democrats were trying to establish the liberal brand. It was sort of working out (for Democrats, though less so for Republicans) until 2008. That year, a Republican named Obama infiltrated the Democratic party and won the presidential election. A small number of voters got upset (remember those "Occupy Wall Street" losers, who would perform protests but not a single one of which could be bothered to campaign for elections, or even vote in them?), but mostly, people didn't notice.
This caused a problem for Republicans, though. They had a conservative Democrat president, whom they had to oppose, and they didn't have any candidates as far to the right, who could mock Obama's "liberalism" with their superior conservativism.
There was only one thing to do. They switched to left -- mock Obama's conservativism with their superior liberalism. Trump shined with his New Deal. He was going to Make America Great Again, like his forebears in 1933.
I get why they did it, but does anyone know why all the right/left voters still swear allegiance to the same parties they used to? Lefties now vote for right-leaning candidates, and righties now vote for left-leaning candidates. It's a strange situation and nobody can explain the voter perspective. Why did people with gunracks vote for a communist? Why did people in tie-dye vote for The Man (Hillary)? It's so weird!
Who wants to bet the execs aren't also taking a 10% cut.
When I hear of cases like this (people getting fired but production being kept the same) I always want to hear about some of the management being fired too. Not only because heartless nature. Management has let the company get overstaffed and have been doing nothing about it. I know that Ford is a large company but surely managers must have noticed having too many people on the shifts or in the offices. Either that or the systems for monitoring don't exist or aren't working.
But by having these extra 20,000 workers on for the past while the company has wasted money paying them when their services weren't needed and now the company is going to pay out a lot more money in packages to get rid of them. If the management didn't let the headcount get that high in the first place then all that money wouldn't have been wasted.
I've seen it at high tech companies too where they grow because they are expected to grow. One place the manager's level was determined by the number of people under them so they hired and grabbed as many projects as they could to get promoted automatically. You aren't doing anyone any favours just to hire them in order to make up numbers. If you have meaningful work that will last a long time then hire them. Otherwise if you have the work make it a temporary job. And if you don't have work then don't hire them at all.
Don't worry, they'll all get jobs as game developers and social media apprentices.
Confucius say, "Find worm in apple - bad. Find half a worm - worse."
I wonder if they are going to cut jobs at plants that got grants in exchange for keeping so many jobs. If so I want some of the grant money back.
there was a very modest uptick from a decade of horrifically bad sales. But every article I've read has said new car buying is way, way down. I just bought a used car and had to pay damn near new because there's not a lot of inventory. Nobody buying new, so nobody selling used (unless you count stuff that's 10+ years old).
Hi! I make Firefox Plug-ins. Check 'em out @ https://addons.mozilla.org/en-US/firefox/addon/youtube-mp3-podcaster/
Isn't there a general auto slump? There was pent up post-recession demand, but now things are settling back to normal demand. Other car makers are cutting also.
Table-ized A.I.
Because the CEO's bonus check will go down if they take your advice. hence, layoffs are the solution to all business problems. slice....slice....slice
So I take it that Ford also has employees who are not paid a salary?
Agreed, so long as Honda exists I'll never buy another Ford. The quality isn't even on the same level.
Fully licensed blockchain psychiatrist
Brand loyalty.
It's easy because I don't have to use my brain to decide things
Russia isn't communist numb nuts.
Fuck off with the neo-mccarthyist bullshit.
Last summer was so awesome for me. Who knew trying to walk east across washington state because i could not afford to pay for the whole trip would be so fun. As the amtrak employee on the train told me if I did not use my cell phone to call the 800 number I could not extend my ticket. The employee made sure i got off the train at leavenworth while fully knowing I had no money. The days of walking were fun out there. I made it pretty far. Did not die. Good for me I guess right.
Apparently the government is an excellent model for private industry. Cut until your services are so inefficient that people are demanding that you shut down. It worked great for HP and Sears, they're almost small enough to drown in a bathtub now.
get you some, fagot. sure you work at starbucks.
Get state governors to give Ford tax breaks to keep the employees and (effectively) let the employees pay for their own jobs - like Pence did in Indiana for Carrier. Problem solved. /sarcasm
It must have been something you assimilated. . . .
For all his hyperbole he is making some good points.
The political landscape now has been turned upside down.
No, you couldn't call Obama a liberal, more like a centrist Democrat.
What can you call Trump?
No, this is the type of perverse, unintended, but perfectly predictable consequence that electing a fucking sociopathic narcissistic discusting mororic mentally unstable piece of shit as your fucking president brings.
'president' Trump for all your hard work at divulging Top Secret information to the Russians.
Trump is a traitor and anyone who voted for Trump is also a FUCKING TRAITOR!
First.... No he didn't. The National Security Adviser was in the meeting and didn't agree that anything classified was inappropriately disclosed to the Russians... Second, this is all based on an "anonymous source" who blabbed to the press for reasons we don't know (It could have been made up even). Third, the president has the authority to disclose any classified information he chooses to whomever he chooses because all of the authority to classify information flows to the holder of the office.
So calm down, take a deep breath and relax.
BTW.. Did you hear about the DNC staffer who was murdered in DC about a year ago? Looks for all the world like this DNC staffer was the source of the DNC E-mail dump to WikiLeaks who offered a reward for information about who killed him ($20K).... This is a MUCH bigger story...
"File to fit, pound to insert, paint to match" - Aircraft Maintenance 101
And too many years on the subsidized lease booze wagon. All the lease returns stacking up in the used inventories are killing sales.
There are a huge number of yeast infections in this county. Probably because we're downriver from the bread factory.
No, this is the type of perverse, unintended, but perfectly predictable consequence that electing a fucking sociopathic narcissistic discusting mororic mentally unstable piece of shit as your fucking president brings.
Yep, there's a glut of late model low mileage used cars out there - I bought a 2016 with 17K miles for a little over half of the sticker price and I couldn't be more thrilled. Lease new or buy used and let some chump take the depreciation.
Go back and re-read what the NSA said, because that's not it, dipshit.
But Trump said he'd make all those big companies keep their jobs here! Don't tell me he was fibbing!
Just cruising through this digital world at 33 1/3 rpm...
Yep, combined with the glut of used cars after the dearth of them from that pile of shite that was Cash for Clunkers. Since people bought many more new cars than normals and/or leased them, the amount of used cars currently on the market in decent shape is higher than it would otherwise have been.
FYI: Hillary Clinton lost the election.
Tim S.
No, this is the type of perverse, unintended, but perfectly predictable consequence that electing a fucking sociopathic narcissistic discusting mororic mentally unstable piece of shit as your fucking president brings.
HRC isn't moronic or mentally unstable.
Thanks, Obama.
You dance, every time I tell you to. You're a good slave. I'll make you dance some more, probably tomorrow. Master is weary.
See subject: You're a demented SICK little fuck - go away, whacko!
APK
P.S.=> Fucking weirdo freak... apk
Which is exactly why you now have this dangerous idiot as a president.
Wait, you seriously don't think Trump fits the description? Do you think he is sane?
Like, not being mentally capable is probably the way he will escape treason charges.
What can you call Trump?
Almost anything, but namecalling doesn't change anything.
Anyone following the healthcare discussion knows that the Republicans aren't even close to going more to the left.
Their party line have switched from being conservative to "Fuck you, you're not one of us so you should die!"
More taxes for the poor, less taxes for themselves. Tax funded healthcare for themselves, not for anyone else.
Obama being conservative didn't cause Republicans to shift left or right, they just went off the chart instead.
What happened to the world that layoffs became equivalent with increasing profits? One generation ago, layoffs were a sign that a company was in serious trouble, profits were down and growth was negative. Layoffs were what the directors did if the alternative was to file for bancruptcy. They would be a bad message for investors and stock price would drop. Mass layoffs were a typical sign of a company about to fold.
Today, by the logic of investors, you should fire all your workforce to increase profits to infinity!
Assorted stuff I do sometimes: Lemuria.org
A top-poster?
I thought those died out with usenet.
Confucius say, "Find worm in apple - bad. Find half a worm - worse."
If leasing companies don't roll the depreciation into the monthly payments wouldn't they be running at a loss?
Confucius say, "Find worm in apple - bad. Find half a worm - worse."
Ford Exec A to Ford Exec B: "Hey, let's give even more money to people who do no work for us at all, by getting rid of people who actually do work for us!" Exec B to Exec A: "Brilliant! That should help our stock price temporarily, until reality sets in, and we have to find people to do the actual work again." Exec A to Exec B: "We'll just outsource those jobs to low-wage countries, further undermining the US economy, but who cares?!? Some trust-fund brats will make EVEN MORE MONEY DOING NOTHING!!" Exec B to Exec A: "And us suits too! Don't forget that we'll come out ahead in all this too!" Exec A to Exec B: "A toast! To fucking over the US economy for our own short-term gain!" Exec B to Exec A: "Cheers!"
See subject: You constantly stalk & harass me on this forums - is that the best you can do w/ your wasted life weirdo?
* No small wonder you're one of SOROS' little punks...
APK
P.S.=> Grow up & get yourself psychiatric help - you need to do both ... apk
'president' Trump for all your hard work at divulging Top Secret information to the Russians.
Trump is a traitor and anyone who voted for Trump is also a FUCKING TRAITOR!
Putin's bitch isn't a traitor for giving that information to the Russians, as POTUS he's actually allowed to do that.
Putin's bitch is a traitor for colluding with Putin to win the 2016 election.
Was due to the fact Obama had that stupid "cash for clunkers" program. People traded in cars that were destroyed, eliminating the used (sorry pre-owned) car market. In a few years, people traded in cars, boosting the used car market, and propping up the new car market. Now, people are starting to hang onto their cars for 6,7 years or more. Plus, the NEW cars, even the so called "cheap" ones, are in the 20,000 dollar range! My dad was a car salesman for over 30 years. In the sixties, you could by a BRAND NEW Truck for 2,000 dollars, a "hot rod" for less than 4,000 dollars. Now, a "pick up truck" will run a minimum of around 30,000 (full size). Vehicles are overpriced, thanks in part to the greedy corporations, unions, and government regulations.
Why are you bringing up modern Russia? Oh right, because the president got caught with Putin's cum all over his chin yet again.
Dude. I was just commenting on the president's communist-colored attitudes and ideals and behaviors. Why are you telling me that Russia is no longer his model? Tell the president. He is the one that thinks sucking Putin off somehow makes him a "good communist" following in the footsteps of Lenin and Stalin.
Is it my fault that he hasn't kept up with history and doesn't yet know the USSR broke up? Direct your "numb nuts" label at appropriate target. I'm with you and Putin, laughing at the guy who sucked the wrong dick.
All that aside, my real issue, though, is why Republican voters supported Trump and why Democrat voters supported Clinton. All you people got your votes exactly opposite from what you always say you want. As another poster said, you're suffering from brand loyalty. So I'm laughing at you too. You deserve your president.
Or did the media events on how he saves jobs lost their mojo?