The automotive industry is faltering in more ways than one, and layoffs appear to be a direct result of the struggle. The Ford job cuts in Germany are the latest sign of challenging times in the EV industry. This week, Ford Motor Co. announced that it would cut 1,000 jobs in Cologne, where its electric auto plant was floundering after lower-than-expected demand for its battery-powered cars.
https://www.thehrdigest.com/ford-germany-job-cuts-announced-layoffs-lead-the-automotive-industry/
@b5 You fool! It went towards fraud, waste, and abuse. Any more stupid questions?
@b4 Model e went through their series A-Z rounds of funding. Where did the money go?!!?!! Not the human capital!
Exactly many peoples thoughts as well - you are correct!
They have only lost around 18 billion over the last few years (including 2025 forecast). Loosing 18 billion is really not that much all things considered start up etc. turning profits will happen in the next couple of decades.
Post ID: @aq+1k5bnb414
Ford has not burned that much money when you consider Model e is really a start-up.
"They’ve burned through billions over the decades, but it all stayed under wraps until that payoff."
Yes, and those guys in South America, and those in China and everywhere else, they are all to blame, losers everywhere but in the NA Truck business.
Maybe someone is just unable to cope with the management of a global company and unwillingly shrinks it by his failures to a size he can handle.
Apart from this even European manufacturers are stumbling over the hurdles that were set by the EU and their completely crazy emission laws.
Those guys scored a massive payout, just a few months back Ford cut them a multi-billion dollar deal. They’ve burned through billions over the decades, but it all stayed under wraps until that payoff.
Ford cannot compete with anyone in the EB business. Get out and join venture with the expert to stay out of bankruptcy.
It's about time Ford realize that it cannot compete in the EV business. Loosing $5billon per year with no end in sight is not a good business strategy.
Ford will need to lay off more of Model E and retreat. Join venture with another Chinese EV manufacturing company, build them in China, and ship them to the US just like what GM is doing.
@a7 They were probably thinking that government mandates would create the necessary demand.
But people are ‘voting’ with their euros.
@a7
All blame starts at the top but I dont see any heads rolling for these ludicrous decisions.
With a single shift remaining in a plant that should be able to put out 200.000 BEV vehicles/ year the question is: "What comes next?" and "What where they thinking when they made plans for such astronomical units?"