Just wondering if anyone has heard anything more since the last rumors for September/October time frame.
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I have no inside knowledge about layoffs but we shouldn’t assume that recent layoffs mean there won’t be more coming. In the dark days of 2008 and 2009 there was a round off layoffs that appeared to pick people randomly. Some of the people let go at that time were excellent. Many of them were recently promoted. The very next review cycle required some low achievers to identify the people who would be eliminated shortly after that. That resulted in two rounds of job eliminations in a short period of time. The recent eliminations were mostly excellent people nearing a pension milestone which is pretty ruthless. I no longer assume they are worried about ethics or how people feel about their jobs. This is not the “old Ford”. Work hard because that’s what we’re paid to do but don’t expect to be treated like you’re working for your family’s business. Unless your last name is Ford.
To answer the other posters question: why would they bother with voluntary separations when the precedent has already been set for involuntary?
First, the posters whom made that statement must have less than 10 years in the company, because what they did in 2018/2019 was the same game plan they followed in 2007/2008 - ask for people to leave on their own via PRP, then moved to involuntary to get to a certain level.
Second, the business case for doing this is quite clear - people aren't stupid, because if you don't give people an out, especially those with experience , then even if they are spared during the involuntary rounds doesn't mean they are going to keep plugging way -they will leave as well (because they are good and they can find employment elsewhere) if all the company offers are involuntary layoffs
Third, they are actively trying to recruit the next generation of leaders.....young people today are way more savvy than we used to be at that age, and have the advantage of the internet and social media, which weren't available to the average person (or even available, period) back when I hired in. The first thing they will do if made an offer by Ford is check social media and sites like this to see how Ford really treats people, because that is their value system...they will not 's— it up and pay their dues" like we were told when hired in. Moreover, they have more options, since their are a lot of tech companies going after the same talent.
No promises they will offer PRP later this year or in 2020; however, i would be very very surprised if they did not offer voluntary package first if a determination is made more people have to go. It would not just k–l the drive for anyone else left, it would make it that much more difficult to bring in fresh talent. The notion that their are 20 more drones willing to do what you do is just not true anymore in 2019; Millennial and Gen Z's would rather launch a lifestyle brand or their own Instagram brand rather than work for a company that treats people less than a number.
Moral? This is a large corporation. You are essentially a drone working for a wage. That is it. If you don't like it, there are 20 other drones out there that will take your job in a heartbeat.
They will fire you immediately if the spreadsheet say they need to cut heads. Note that the term is "heads" not humans/people with families/obligations.
Why would they bother with PRP/Voluntary Seps after the firing precedent has been set. Yeah, they get a few days of bad press, but then the world moves on and their deliverables turn green.
Sorry to be so negative - but this is where we are at.
Agreed with the post below regarding Voluntary Separations would be the way the company would go if cuts were needed. Nothing would be worse than another involuntary cut for moral at a "World Class Organization" looking to attract talent.
The global huddle will only be an advert for a new revolutionary campus that will save the company by attracting talented employees. LMAO
I doubt severance package for ordinary employees will exceed 75% of salary ever again. It may even fall further.
Many years ago 3 years salary + 3 seniority was possible. Now 3+3 is for LL2 leaders
Safe to say something is happening - right on top level home page of At Ford is the advert for the Global Team Huddle tomorrow , and another advert/image that says this: "Transformation comes from within. What's next for Ford. It's Up to You" Ominous if you ask me, like some serious stuff is going to be announced at this meeting.
I've been with IT at Ford for nearly 21 years, and in all that time there has never been white collars layoffs more than once a year. If the current management really wanted to prove they are different and this is a different company, to have another round of white collar layoffs this year would really send that message home....and would literally destroy what little loyalty and/or willingness to go above an beyond left in the company to shreds. So doubtful for another round of white collar layoffs so soon. However, what will likely happen are a few of the standard things: open job reqs left un-filled, Ford will shake down the agency/contract companies for rate reductions. contract/agency people will be let go....end result will be the the GSR drones will be left with even more work to do. I also suspect that certain areas will be hit harder than others, and it might not include all areas like it did earlier this year.
Also, there might be a better than 50% chance that PRP could be offered again....don't have any inside information, but that has been the favorite way to get people to leave in the past that is the least disruptive way to the company. It can save the company real money to get someone at 20 to 25 years to leave, as the pension benefits occur the most in the 25 to 30 year range for people that still have pensions.
Sad fact notwithstanding the jackal that posted he heard it from a L2, no one really knows...so just be prepared for anything and everything, just like in April/May early this year
1ccf raises a good point, 2020 is shaping up to be an exceptionally good year to retire for those over 55 or 30+ years as lump sums are likely to be huge. We'll know when IRS reports September numbers in a few days.
Good luck to all
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Hmm...how strange. One anonymous person says announcement for PRP is any day now, another says, sorry, just layoffs like last time.
Can't worry about what may happen or not happen, only respond to it as it happens. Sorry don't worry about it. What you should do, however, is be prepared to seriously consider your opinions regardless of which form of moving people out the door is picked. So if you have not already, dust off your resume and start looking.
I stopped preparing after the "all clear" was given in June for our area, but I have picked up again after my people leader has said that budgets are being cut for IT projects. What is different this time around is that there are 20 some open job reqs on internal job board (Jobs Online) for diffeent IT areas, so it seems as if there are some projects still funded for next year. It is indeed a confusing time with the different messaging gong around.
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no buyouts are going ot be offered from what I am told. Straight layoffs like the last round. So Sorry for yo who are expecting to cash in but 9 months will be max you get. That is from a LL2 I know.
Prieliminary 2019/2020 PRP annoucement may be as early as Fri 9/20 or Mon 9/23. Papa Bear still thinks he can slash (experienced workers) his way to prosperity and higher stock prices. I only wish I my 30 years in. If you do, take it, run, and don't look back.
My lump sum estimate was $864k last year. If the estimate is $1,100,000 or more lump sum if I retire next year I am out of here regardless of whether PRP is offered! A severance of nine months salary is not that much.
You are taking a chance rock bottom interest rates stick around. You could be right but to me it comes down to the bird in the hand being better...
As soon as they announce a PRP, I'm signing up! If there's no PRP, I'll wait until there is one offered. Management in my office are saying the head count is being cut in 2020. We'll have to wait and see what happens!
September, 2016 was the best at 3.34%, but September, 2019 might even be better. We'll know in a few days.
When people see their lump sum numbers
there may be a stampede to leave. For that reason they may not offer as a lot of people will just retire w/out package
Ford adjusts their lump sum numbers to the new interest rates in Mid September. Should be happening any day now!
Second segment (most important one) was 4.15 for September 2018, It currently is 3.38%. For every tenth percent drop I receive about 100k, so, if offered, this year PRP is looking about half million dollars better than last year for me.
Sign me up!
I have not but noticed the lump sum option would be attractive as interest rates have dropped.
https://www.irs.gov/retirement-plans/minimum-present-value-segment-rates