Ford Motor Will Cut 7,000 Jobs by August to Streamline Operations - Ford Inside News Community
 5Likes
  • 2 Post By wingsnut
  • 1 Post By ZanatWork
  • 2 Post By wingsnut
 
LinkBack Thread Tools
post #1 of 7 (permalink) Old 05-20-2019, 03:40 PM Thread Starter
Ford Falcon
 
AM222's Avatar
 
Join Date: Apr 2010
Location: Philippines
Posts: 2,610
Ford Motor Will Cut 7,000 Jobs by August to Streamline Operations

Ford Motor Will Cut 7,000 Jobs by August to Streamline Operations

By Neal E. Boudette
May 20, 2019

Ford Motor will lay off 800 employees in the United States over the next several weeks as part of a broader plan to shrink its salaried work force by 7,000 people, or 10 percent, by the end of August.

The cost-cutting drive arises from an effort by the company’s chief executive, Jim Hackett, to increase profits in the face of slowing sales. Ford reported last month that it earned $1.1 billion in the first quarter, down from the same period a year earlier but better than analysts had expected.

Ford started cutting jobs last year and expects to hit the 7,000 target sometime in August, Mr. Hackett told employees in an email on Monday.

“Within that total, and consistent with our goal to reduce bureaucracy, we will have reduced management structure by close to 20 percent,” he said. “This will result in annual savings of about $600 million.”

Mr. Hackett took over as chief executive two years ago as costs were rising and profits were falling. Analysts have criticized the deliberate pace of his turnaround, but investors have rewarded the company since its first-quarter earnings report. On Monday, Ford shares were trading at $10.26, up from $7.90 at the beginning of the year.


https://www.nytimes.com/2019/05/20/b...ting-jobs.html
AM222 is offline  
Sponsored Links
Advertisement
 
post #2 of 7 (permalink) Old 05-20-2019, 03:46 PM
Ford Explorer
 
wingsnut's Avatar
 
Join Date: Mar 2007
Posts: 10,636
Re: Ford Motor Will Cut 7,000 Jobs by August to Streamline Operations

Eu is going to get hit hardest. I am 2 years from my 30 years at Ford. After that I will be happy to bail. Ahhh heck, I am probably OK with it now too. Take about 6 months off to regather my thoughts and travel and then start double-dipping for even more money.

**********************

To view links or images in signatures your post count must be 0 or greater. You currently have 0 posts.
wingsnut is online now  
post #3 of 7 (permalink) Old 05-20-2019, 06:48 PM
Ford Focus
 
tagorgia's Avatar
 
Join Date: Aug 2013
Location: Scottsdale, AZ
Posts: 116
Garage
Re: Ford Motor Will Cut 7,000 Jobs by August to Streamline Operations

I was working as an Engineer at the Livonia Transmission plant in 2007 when Ford was cleaning house. I was 57 at the time with 15 years at Ford. Based on my age and years of service I was qualified to accept the buyout which was one years salary (rolled over into my 401k) plus collecting my pension with an additional bridge allowance until age 62. Although my pension is small with only 15 years of service, my wife and I didn't want to deal with the crappy weather in Michigan and we already had a house in Scottsdale to move to, so I gladly accepted the buyout. Ford got more people than expected with the buyouts, and even rejected some of them. Even my boss took the buyout. He had 35 years so he walked away with a sweet pension and went to work for Getrag. Have never regretted my decision, and if I want to see snow, it's only an hours drive north!
tagorgia is online now  
 
post #4 of 7 (permalink) Old 05-20-2019, 10:32 PM
Ford Focus
 
Join Date: Mar 2019
Posts: 145
800 families without jobs... hopefully some of these folks can move to Alabama and work at Toyota...
hellb0y is online now  
post #5 of 7 (permalink) Old 05-20-2019, 11:06 PM
Ford Explorer
 
wingsnut's Avatar
 
Join Date: Mar 2007
Posts: 10,636
Re: Ford Motor Will Cut 7,000 Jobs by August to Streamline Operations

Quote:
Originally Posted by tagorgia View Post
I was working as an Engineer at the Livonia Transmission plant in 2007 when Ford was cleaning house. I was 57 at the time with 15 years at Ford. Based on my age and years of service I was qualified to accept the buyout which was one years salary (rolled over into my 401k) plus collecting my pension with an additional bridge allowance until age 62. Although my pension is small with only 15 years of service, my wife and I didn't want to deal with the crappy weather in Michigan and we already had a house in Scottsdale to move to, so I gladly accepted the buyout. Ford got more people than expected with the buyouts, and even rejected some of them. Even my boss took the buyout. He had 35 years so he walked away with a sweet pension and went to work for Getrag. Have never regretted my decision, and if I want to see snow, it's only an hours drive north!
I too should have a pretty good deal if Ford forces me out. I am almost mid 50's, so I still have a few good years left in the market, and engineering jobs should be easy to come by having Ford on my resume. Honestly, I know a guy who left GM and is driving 18 wheelers across the country now making $150K/year, after training for 6 months and earning $72K while doing so. He says he should be up to about $200K very soon. He is divorced, and it works great for him, and he loves to travel the open road. About my age, he says he will work till about 60. Says it beats his desk job, and beats staying home. And there is a serious shortage in drivers these days. Interesting.
ZanatWork and tagorgia like this.

**********************

To view links or images in signatures your post count must be 0 or greater. You currently have 0 posts.
wingsnut is online now  
post #6 of 7 (permalink) Old 05-23-2019, 09:46 AM
Focus RS WRC
 
ZanatWork's Avatar
 
Join Date: Nov 2007
Location: Kent, WA
Posts: 609
Send a message via MSN to ZanatWork
Re: Ford Motor Will Cut 7,000 Jobs by August to Streamline Operations

Quote:
Originally Posted by wingsnut View Post
I too should have a pretty good deal if Ford forces me out. I am almost mid 50's, so I still have a few good years left in the market, and engineering jobs should be easy to come by having Ford on my resume. Honestly, I know a guy who left GM and is driving 18 wheelers across the country now making $150K/year, after training for 6 months and earning $72K while doing so. He says he should be up to about $200K very soon. He is divorced, and it works great for him, and he loves to travel the open road. About my age, he says he will work till about 60. Says it beats his desk job, and beats staying home. And there is a serious shortage in drivers these days. Interesting.
I hear similar stories, often. I recently changed industries (slightly) from auto parts to big truck stuff, and there's a lot of drivers in that basic age bracket (I'm right behind you) that are earning good money while seeing a lot of country. It's a very isolated job for some, but others have spouses that ride along and/or co-drive...and others love the privacy.

I admit to giving it a fair amount of thought, myself. I play in various music groups enough that it'd be very difficult to take on that sort of career, but I still consider it.
wingsnut likes this.

If GM can justify Buick, and if Honda can justify Acura, we can damned well have Mercury back.

Last edited by ZanatWork; 05-26-2019 at 11:50 PM.
ZanatWork is offline  
post #7 of 7 (permalink) Old 05-23-2019, 05:43 PM
Ford Explorer
 
wingsnut's Avatar
 
Join Date: Mar 2007
Posts: 10,636
Re: Ford Motor Will Cut 7,000 Jobs by August to Streamline Operations

I consider myself a social person, but I can easily go long periods without talking to people, or at least in person. These trucks are like small motels, complete with bed, cable TV, fridge, microwave, even X-Box. Does not sound so bad. I would not rule it out anyway. Money is decent, but seeing the country from coast to coast has been a long dream of mine.
ZanatWork and djhogie like this.

**********************

To view links or images in signatures your post count must be 0 or greater. You currently have 0 posts.
wingsnut is online now  
Sponsored Links
Advertisement
 
Reply

Quick Reply
Message:
Options

Register Now



In order to be able to post messages on the Ford Inside News Community forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.

User Name:
Password
Please enter a password for your user account. Note that passwords are case-sensitive.

Password:


Confirm Password:
Email Address
Please enter a valid email address for yourself.

Email Address:
OR

Log-in










Thread Tools
Show Printable Version Show Printable Version
Email this Page Email this Page



Posting Rules  
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On

 
For the best viewing experience please update your browser to Google Chrome