Ford Wants to Claw Back to Profitability by Cutting 12,000 Jobs in Europe by End of 2020

[mahatmakanejeeves]

Ford Wants to Claw Back to Profitability by Cutting 12,000 Jobs by End of 2020

Kristen Lee
Today 10:19am

Ford’s plans to cut a bunch of jobs in Europe, upcoming strict emissions regulations in Europe spell trouble for automakers, a new legislative bill designed to help consumers and more await you in The Morning Shift for Thursday, June 27, 2019.

1st Gear: A Lot of Jobs

Haven’t you heard? Ford is a mobility company now, one that is especially concerned with electrification and technology (this is all silly, it’s a car company, it’ll always be a car company). But because profitability slid in 2018 and the money to finance all of this doesn’t just magic out of nowhere, the company has been very gung-ho about slashing costs. In 2017, it said that it would slash costs by $14 billion. And that includes a lot of jobs.

Ford intends to cut 12,000 jobs in Europe by the end of 2020 in an effort to become profitable again, reports Reuters:

Approximately 12,000 jobs will be affected at Ford’s wholly owned facilities and consolidated joint ventures in Europe by the end of 2020, primarily through voluntary separation programs.

Around 2,000 of those are salaried positions, which are included among the 7,000 salaried positions Ford is reducing globally, the carmaker said. The rest are workers on hourly contracts or agency workers.

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[Moostache]

1. How many employees equals 1 CEO for Ford?

Losing money? Maybe, just maybe the FIRST FUCKERS TO GO should be the cocksuckers who sit in ivory towers, make NOTHING but disastrous decisions and THEN start looking in other places to trim costs?

This is why corporations and capitalism without regulation are an inherent evil...the biggest markers against the bottom line are the Board of Directors, the Executive management and the people making many multiples of their actual contributions to the company or the shareholders...

The other thing that SHOULD happen is the shareholders should be told THEY are also going to share in the pain of the bad decisions or market forces that cause the downturn in profits. The labor and workers who produce the product are always the first to suffer and the last to benefit from turn arounds...hell, 10 years ago the industry stood on the precipice of collapse yet stock prices recovered, boards got HUGE bonuses and CEOs got enormous golden parachutes and compensation packages...how much went to the workers?

I hate what the world has become and how America is the worst of all players at making it happen...I just don't know how much longer this world is worth staying in...it is bleak, getting worse, and there is little to no hope in sight.

[Wellstone ruled]

2. Where to start.

Our corporate Management Structure in the USA has always followed the Military Structure. Each Officer had his own little Kingdom and thus you structure becomes mega top heavy over time. And your efficiency of operations and getting thinks down suffer..

As for Ford,two classmates from Engineering School went to Ford after Graduation as Design Engineers,their first reality check was the little kingdoms that formed around various aspects of just design. Get along go along was the quite theme of every day. Like what both mentioned to me was,hey the money is great and it is a indoor job with great bennies. As far as quality on the shop floor,as long as they met the numbers,everything takes care of its self. BTW,both took a early buyout just to get out of what they called the system. And both predicted today's events as far as Ford cutting people. The Man at the top comes from Steelcase. And he will clean out the dead wood. As my old classmates have mentioned,Way to many people making out dated things that nobody wants. And they have been out since 2005.

[TheRealNorth]

3. Ford took out huge loans in 2005 or 2006

Which was the real reason Ford didn't need the bail out in 2009. The fact that they didn't take a bail out has seemed to cause the red hat crowd to gravitate to Fords.

I have owned nothing but Ford's, but with their recent decision to become pretty much a truck/SUV- only company, I'm probably gonna look at GM or Honda when I decide to retire my Fusion.