Hug your directors extra tight at night because layoffs are imminent at this point. Only a matter of time.
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@bqj, plus skyrocketing warranty. (Continuity in a program is a good thing, Mr. Farley.)
There will be no recession until after November 5.
The government collects and tabulates the numbers that indicate a recession, so there won’t be one.
Companies like BYD and Tesla...maybe Rivian are the ones that may succeed. With tech convergence not sure how many people expect legacy automakers to evolve and survive. But I guess they should try. Recession + recalls + software put Ford and others in a bad position. You can keep using the excuse of "model e is a startup" for ever.
People are uninformed...Ford made a bucket load of money off of the Rivian investment.
All the people involved in projects like Train Station, BEVs, Argo, Next, Rivian, Chariot, and Canopy should be have bonus plans that take into account their own business segments. Why do we need a CEO of a train station, or a CEO of Canopy? Those CEOs, if they exist, should be paid only on what PROFITS their special projects create. Then they would be more concerned about PROFITS, not about flying around the world at shareholder expense collecting FF miles for their next family vacation (CM).
Sending engineering activities down to Mexico will result in layoffs in North America.
It's coming.....
Good times are needed to prepare for the bad times. Borrowing and spending in stoopid projects like Train Station, BEVs, Argo, Next, Rivian, Chariot and lots more, while alienating the consumer base and kicking out the technical people (including ICE engineers) would not help FMC in a recession.
Now we have an expensive Union contract, a runaway inflation, a recession coming, an old line up of vehicles where many of our offerings do not interest the consumers, a deep quality problem embedded in our processes, lack of leadership, a big debt, and more. Ford is big and may survive a regular recession (not a long term depression), but many white collar positions will not survive.
Get ready for layoffs, because they are coming. Good luck!
This is bad for companies like Ford. We can’t weather a recession with our product offering - expensive, low quality,
New 52 week low and market cap down 60% from two years ago.
Why is Farley still here?