Ford Credit employees had a video from their CEO this week where he said the North American Ford Credit business centres will not be impacted by the final phase of Hackett's Smart Redesign. Is that true or more lies from the home office to calm nerves? I saw another post on here a week or so back that Ford Credit is rumored to be sold to some big bank like BOA or Barklays. I forget which. So is Ford Credit safe or not? It's enough to drive you insane. WTH?!
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I do not know of any sell-off of Ford Credit. However, I know of 13 walked out the door. So they are included.
Ford Credit is just getting started. They’re only done with the LL4 and up levels. Next phases are LL5, LL6, GSR level layoffs. Which haven’t even been decided on yet. Won’t be done until late April or even early May. Do the math, you can’t fire people below you until you yourself know whether or not you’ve been fired first.
If Ford Credit is sold, what are you really selling. Retail contracts are generated, packaged, and sold, the money is turned. Wholesale flooring very important for dealers. If sold FMCC can no longer manage the hidden push to approve credit on specifically targeted vehicles. Also, take a look at the income statement 12/18. FMCC is a cash machine for Ford and accounts for a large portion of YOY profitability. For the most part history shows its been hands off FMCC
I don't have any information, but it doesn't make any sense that Ford would sell off Ford Credit. Having a captive financing company is extremely important for any automaker.