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  • Drew Dowdell
    Drew Dowdell

    Ford Europe Laying Off Another 12,000

      ...this is on top of the layoff already announced...

    Ford of Europe announced Thursday that the company would be laying off around 12,000 employees as part of a global restructuring.  This is on top of the layoffs Ford previously announced earlier this year.  Ford says it will reduce the number of plants in the region to 18 and reorganize its business into three divisions; Commercial, Passenger, and Imports such as the Ford Mustang.

    Most of the positions in Europe will be eliminated via voluntary separation programs and should be completed by the end of 2020. Of the jobs lost, 2,000 will be salary and another 5,000 will be white color positions. 

    Ford is struggling to make its European operations profitable against a backdrop of stagnant sales in the EU.  Ford of Europe says that in future, all new vehicles will come with an electrified version, be that a full EV or a hybrid. 

     

    Edited by Drew Dowdell

    Source: Autoblog
    Image: Ford of Europe - Valencia Plant



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    5 hours ago, dfelt said:

    Totally makes sense considering the climate change of the market.

    Ford may be better off ditching Europe entirely, but this is a good start for Dearborn.

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    Just now, riviera74 said:

    Ford may be better off ditching Europe entirely, but this is a good start for Dearborn.

    Biggest problem is the Socialist Unions that seem to think companies HAVE to have jobs for life. No such thing and for a company to survive it has to make a profit.

    I would agree with you that this might be the best thing is for Ford to leave Europe totally.

    Ford's biggest mistake was to take loans against everything to survive rather than go bankrupt and clean house to have a better foundation. When the Truck market tanks, this could change the company for ever. They are too reliant on Trucks, with secondary SUV/CUV. I do worry about GM also doing this, but they are more financially stable than Ford.

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    Ford has made a lot of mistakes..pretty much everywhere . They are going to find out quick that the truck market is not going to be high as it is now forever. I expect a rough economy and sky gas prices to ease the truck buying madness. As bad as it sucks, at least GM saw the writing on the wall..

     

    Most of the employees in Dearborn are working EV, not as much on ICE.....

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    48 minutes ago, ccap41 said:

    question mark wtf GIF

    It's possible if/when gas prices ever rise a lot.  It can be unpredictable... all it takes is a war in Iran. 

    • Upvote 1

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    The fundamentals have changed vs years past, we’re a net exporter now and not as vulnerable to turmoils as in the past. Not to say we’re invulnerable...

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    28 minutes ago, Drew Dowdell said:

    It's possible if/when gas prices ever rise a lot.  It can be unpredictable... all it takes is a war in Iran. 

    Just buy a Ferd ECOBOOST! Best of both worlds, brother! 

    🤣

    • Haha 2

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    15 hours ago, dfelt said:

    Biggest problem is the Socialist Unions that seem to think companies HAVE to have jobs for life. No such thing and for a company to survive it has to make a profit.

    I would agree with you that this might be the best thing is for Ford to leave Europe totally.

    Ford's biggest mistake was to take loans against everything to survive rather than go bankrupt and clean house to have a better foundation. When the Truck market tanks, this could change the company for ever. They are too reliant on Trucks, with secondary SUV/CUV. I do worry about GM also doing this, but they are more financially stable than Ford.

    The truck market will not tank. It hasn’t for the last half century and only gets more popular despite the ever increasing prices. As long as we have the state of Texas, that demand will never wane. 

    4 hours ago, Drew Dowdell said:

    It's possible if/when gas prices ever rise a lot.  It can be unpredictable... all it takes is a war in Iran. 

    When gas hit $4-5 a gallon during the Bush Jr. years, the truck market hardly hit a blip compared to other categories like full size SUVs. Gas would have to hit $20 a gallon before that actually happens. 

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    14 hours ago, balthazar said:

    The fundamentals have changed vs years past, we’re a net exporter now and not as vulnerable to turmoils as in the past. Not to say we’re invulnerable...

    While true, not everyone knows that.

    Plus, Wall Street can take the suckers for a nice profit.....

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    On 6/28/2019 at 10:04 AM, balthazar said:

    The fundamentals have changed vs years past, we’re a net exporter now and not as vulnerable to turmoils as in the past. Not to say we’re invulnerable...

    I dunno what it is like around you, but gas is already $3.00 a gallon here.  That's without any sort of turmoils... 

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    $2.69-$2.89 'round these parts, depends on what side of the river I spend five minutes replenishing my vehicle to 100% capacity.

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    There have been turmoils; a PA refinery explosion and Iran did what; rammed a tanker ship? Oil futures are below today’s prices, which are below last years pricing. How much of pump price rises are tax-related?

    gas is 2.53 here. 

    Edited by balthazar

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    IL has been $2.49-2.69 as of last weekend but July 1st our great state(which has no money and they make turrible decisions) rose the gas tax by $0.19/gallon(2nd highest in the nation). I understand that was a tax that was needed awhile ago but maybe less so if the rest of our state taxes weren't already so damn high. Oh yeah, our yearly registration went up almost 50%. $110 to $160. 

    Also;

    "Vehicle registration fees: Vehicle registration fees will increase by 50% to $150, lower than what Pritzker proposed. The measure also would charged electric vehicles $248 a year, a major increase from the current $35 every two years, the Chicago Tribune reported."

    https://www.illinoispolicy.org/illinois-taxpayers-to-face-2-1b-in-new-taxes-on-july-1/

    https://www.nbcchicago.com/blogs/ward-room/new-taxes-illinois-springfield-lawmakers-510774341.html

     

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