I said the other day they’d have to start firing people. That has begun.
Thank you President Trump!!
Let’s Make America Downsized Again!!
Ford has many top executives earning a lot of money. Their new approach is to have just a few, higher paid, experienced executives and replace the rest with younger, less experienced, lower earning employees. This is the second wave. The first was over about a year ago. The best man in my wedding is being given a golden parachute at the end of this month after being with them for 33 years.
Well, after Ford announced that the Trump aluminum and steel tariffs cost them 1 billion in profit with no end of the trade war in sight I think Stevie Wonder could have seen this coming.
Quite the opposite where I work. Everyone including first level management is getting retro pay dating back to 2011. On top of that an immediate 6.75% raise. They actually hired a company to do the math. It should be done no later than the first week of December. All this before they start negotiating a new contract, which will include more raises.
You in a union?
Union and state government job.
Yeah. I work for the New Jersey Turnpike.
From the link:
"The Dearborn-based automaker told employees about the plan on Thursday, the Free Press reported, saying the changes are part of trying to identify how the company can become stronger by limiting corporate bureaucracy and identifying weaknesses in all areas of business, from communications and finance to manufacturing and human resources.
Exactly what does Prsident Trump have to do with this?
Be specific Sparky.
Attempting to maintain profit margins affected by Trump tariffs on steel and aluminum.
Just think, if we made aluminum and steel in this county (like we used to) there would be no tariffs on it.
Sounds like ford has too many chiefs.
So the Ford CEO is wrong?
“The metals tariffs took about $1 billion in profit from us – and the irony is we source most of that in the U.S. today anyways,” Hackett said. If it goes on longer, there will be more damage.”
It has nothing to do with Trump. It’s Ford.
You know that.
Yep - that’s the problem with putting these tariffs on things like steel and aluminum. They affect other areas of the economy and have a negative impact.
Ford was the car maker that didn’t need bailing in the Booooosh Great Recession.
The Layoffs are making-up for loses from Trump tariffs on steel and aluminum.
How did you get that from my comment?
We make steel here…
Not anywhere as much as we used to. (Note those words in the post you responded to.)
We make steel here.