See Barron's news and wall street journal wsj: Ford Is Moving Ahead With Staff Cuts, Report Says. There Will Be Severance. Monday, the Wall Street Journal reported that Ford (ticker: F) is offering severance packages to some U.S. salaried staff that have been deemed as underperforming. Ford didn’t immediately respond to a request for comment about the report.
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I wonder how generous the voluntary severance will be. 2 weeks pay for each year of service?
What is unfair about it? It is effectively an involuntary separation. Here, take this package or risk getting separated with no package in a few months. As for good workers getting nothing, is keeping your job nothing? If you want to leave, then leave.
They say it is voluntary but there is no way they are going to keep the people who choose the performance improvement plan. You can always find someone’s faults, especially when looking through a magnifying glass.
Read the whole article, there is a clear involuntary component.
As part of the updated policy, managers who have low-performing employees with less than eight years can skip the performance-enhancement plan and move to an involuntary separation with severance, the Ford spokeswoman said. These employees can also receive some benefits, such as job-placement assistance, if they are let go, she said.
This is not a layoff. This is voluntary.
"Only if you suck, you get $$$".......um, you do know this is a layoff, right? It's called severance pay, because you no longer have a job.
This is just a good way to get rid of older workers. The high tech industry has been doing this for decades.
So if I want to opt in, I can? Didn't think so. Discrimination.
@rvw+1jtvnoyP, still not a great message to regular folk who would have loved to take advantage of this program.
They did something just like this 20 plus years ago, but the messaging was so bad they promptly changed the wording and opened up to all, once it hit the papers.
It is involuntary disguised as voluntary.
When low level management is told who has/will have declining performance by higher level management, those getting the tap know they better voluntarily take the offer.
Those selected do not necessarily suck. The space wasters are guaranteed to not be cut, watch and see.
People, this is voluntary not involuntary.
I must ask, if you suck, why weren't you released in the big cuts in April or Aug? I do not understand. Can anyone explain this?
Not sure if this is clear, this is a "voluntary" offer for salaried, up to 9 months pay to voluntarily leave, but only if you suck. If you are good no soup for you. This is not involuntary.
Execs leaking cuts again. Freep gets truby PR stories handed to them.
Everyone with even a wee bit of grey matter knows they are laying down legal cover by claiming they are releasing low performers. But hey lets keep repeating Ford’s PR spin that only low performers are getting cut, so those who are cut have difficulties finding a new job.
@wlp+1jtvnoyP
Phoebe was too busy printing a press release about Lawler as “news:”
“John Lawler, chief financial officer at Ford Motor Co., acknowledges the dynamic economy has his company, the automotive industry and most of corporate America on edge. "We're preparing," he told reporters after the company filed its third-quarter earnings report Oct. 26.”
Preparing for bankruptcy when the Lightning isn’t successful?
It is upside down world at Ford. Great messaging.
I am glad this news finally got out. F = unfair. Only if you suck, you get $$$ . Good workers, great workers get 0. Crazy times at F.
It is such a disgrace freep refused to report on this shameful practice.
Wall Street journal and Barrons had the guts freep did not have to publish this.