Ford to layoff 8000

[drtibrd]

https://money.usnews.com/investing/news/articles/2022-07-20/ford-to-cut-8-000-jobs-bloomberg-news

 

[smurfslayer]

Ford Chief Executive Jim Farley said in February at a Wolfe Research conference the U.S. automaker's opportunity to cut costs in its internal combustion engine operation was on the structural side. "We have too many people," he said.
"This management team firmly believes that our ICE and BEV portfolios are under-earning," he added, referring to battery electric vehicles, or BEVs.

If you’re “under earning” with F series sales, the ‘braves’ aren’t the problem, the chiefs are.

 

[2slo4u]

If you’re “under earning” with F series sales, the ‘braves’ aren’t the problem, the chiefs are.

agreed!!

 

[GordoJay]

Sounds like they’re phasing out the ICE. Looks like I’ll be phasing out Ford. Bummer.

 

[Zeusmotorworks]

Everyone thinks they are (going EV). Will be interesting to see if alternative fuels does not win out though. Most underestimate how incrediblity unprepaired the US is for such a switch. Esp when you have rolling blackouts and ordinances barring EV charging during such times. How does THAT pan out?

 

[melvimbe]

I don't recall a situation where a company can't produce enough product to meet demand....and responds by laying off 8000 employees. It would only make sense if they just aren't staffed properly in the right areas, but that doesn't sound like what they're talking about here.

 

[drtibrd]

Ford is way behind GM in EV manufacturing lines. They missed the boat and this is a knee jerk reaction to shift capex dollars into new tech. Should’ve been doing this years ago. The lightning with all its hype is a huge let down. TFL did a camper pull test against a GMC 6.2 (IIRC) and the lightning only made it 96 miles on a range expectancy of over 300 (but it can power your house). Then you have the folks on the R forum waiting 17 months after announcing the R for it to finally be revealed and those lucky enough to get one will probably have to wait another 6 months for delivery.

 

[GordoJay]

I don't recall a situation where a company can't produce enough product to meet demand....and responds by laying off 8000 employees. It would only make sense if they just aren't staffed properly in the right areas, but that doesn't sound like what they're talking about here

It could be that it's their excuse, not their reason. And they have been parts limited, not labor limited. And now maybe they predict a recession. The way they did in March of 2020. How is that working out?

 

[Donovan]

This is the first of the layoffs.... many more to come.

Then we'll have an issue. I question the folks who voted incorrectly.... "So this is your king?"

 

[Jakenbake]

Ford is way behind GM in EV manufacturing lines. They missed the boat and this is a knee jerk reaction to shift capex dollars into new tech. Should’ve been doing this years ago. The lightning with all its hype is a huge let down. TFL did a camper pull test against a GMC 6.2 (IIRC) and the lightning only made it 96 miles on a range expectancy of over 300 (but it can power your house). Then you have the folks on the R forum waiting 17 months after announcing the R for it to finally be revealed and those lucky enough to get one will probably have to wait another 6 months for delivery.

That towing test isn’t exclusive to the lightning, they also helped document a long distance towing test with the he rivian. I’m just guessing, but I would say that would apply to all electric vehicles……..