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Ford Slashes Thousands Of Jobs In Europe As It Pivots To Electric Cars
dailycaller.com ^ | 2/14/2023 1037 hrs est | JOHN HUGH DEMASTRI

Posted on 02/15/2023 6:29:37 AM PST by rktman

Ford will cut 3,800 jobs in Europe as the company restructures to focus on developing its all-electric fleet, the company announced Tuesday.

The layoffs and restructuring are part of the company’s response to “rapidly changing market conditions” and increased competition in the electric vehicle industry, Ford said in a press release. The company missed its earnings expectations by $1.1 billion in the fourth quarter of 2022 and was down $11 billion from the same time the year prior, according to CNBC. (RELATED: Here’s How Elon Musk Started An Electric Vehicle Price War)

“These are difficult decisions, not taken lightly,” said Martin Sander, general manager of Ford Model e in Europe, in the company’s announcement. “We recognize the uncertainty it creates for our team, and I assure them we will be offering them our full support in the months ahead. We will engage in consultations with our social partners so we can move forward together on building a thriving future for our business in Europe.”

The company is investing $50 billion into its electric vehicle lineup and its plans to make its European fleet all-electric by 2035 are unaltered, Ford announced. Chief Financial Officer John Lawler said in early February that the company would need to be “very aggressive” in cutting costs to compensate for an anticipated $5 billion increase in operating costs in 2023, Reuters reported.

(Excerpt) Read more at dailycaller.com ...


TOPICS: Business/Economy; Foreign Affairs; Government; Philosophy
KEYWORDS: cars; dumbassery; electric; electriccar; electriccars; ev; evs; f150; ford; wlectricvehihicles
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To: logi_cal869

RAMs are headed there but at a slightly slower pace. The next charger rt (ev) will have a built in sound system so it will sound like a hemi. Really. I saw an article about it. Not quite the visceral feel of a cammed up 426 Hemi with open headers at idle.

https://www.carscoops.com/2022/08/is-the-dodge-charger-daytona-srts-fake-v8-sound-cool-or-cringy/


21 posted on 02/15/2023 6:52:59 AM PST by rktman (Destroy America from within? Check! WTH? Enlisted USN 1967 to end up with this? 😕)
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To: Tell It Right

Great! Freeways packed with miniature hindenburgs. LOL!


22 posted on 02/15/2023 6:54:26 AM PST by rktman (Destroy America from within? Check! WTH? Enlisted USN 1967 to end up with this? 😕)
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To: Captain Peter Blood

When you point that out to the EV crowd they reply “the battery tech will change in 5 years!”

Not sure where they got that from (their backside?)

Also it seems with the high cost of parts when they fail (and they will) the current crop of evs will simply be disposed of when out of warranty and repair costs exceed value.


23 posted on 02/15/2023 6:57:21 AM PST by cableguymn
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To: rktman

EVs will be an Epic Fail of immense proportion.
I don’t have a problem with EVs as niche vehicles making up maybe 15% of the fleet.
But there isn’t the electric generating capacity, the grid nor the mining and metals necessary to reach the Net Zero fantasyland.


24 posted on 02/15/2023 6:57:26 AM PST by DaxtonBrown
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To: rktman
“rapidly changing market conditions”

Government mandates is NOT "market conditions"


25 posted on 02/15/2023 6:57:57 AM PST by ProtectOurFreedom (Once you get people to believe that a plural pronoun is singular, they'll believe anything - nicollo)
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To: rktman

Pivoting to bankruptcy is more like it.


26 posted on 02/15/2023 6:59:50 AM PST by Opinionated Blowhard (When the people find that they can vote themselves money, that will herald the end of the republic.)
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To: rktman
"We will engage in consultations with our SOCIAL PARTNERS..."

Good thing they have their eye on good management practices.

27 posted on 02/15/2023 6:59:57 AM PST by ProtectOurFreedom (Once you get people to believe that a plural pronoun is singular, they'll believe anything - nicollo)
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To: rktman

I hear Rivian is about to go under.


28 posted on 02/15/2023 7:00:44 AM PST by Fresh Wind (The last remnants of the Old Republic have been swept away.)
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To: Tell It Right

Plug Power has been imagining fuel cell vehicles since 1997, but they have yet to produce a commercially viable model except for niche purposes. High price golf cart, yeah. Cross country vehicle, not on the horizon. Engineering and cost are formidable obstacles.


29 posted on 02/15/2023 7:01:50 AM PST by hinckley buzzard ( Resist the narrative.)
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To: rktman

Ford’s traditional customers were middle class, working Americans. They simply do not want to buy EVs even when coerced. Ford will go bankrupt. The government catering to unions will one day take it over and it will be known as “US Ford”. The niche EV market belongs to Tesla.


30 posted on 02/15/2023 7:02:19 AM PST by allendale
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To: Gnome1949

get in on the ground floor of

uber rickshaw


31 posted on 02/15/2023 7:05:08 AM PST by joshua c (to disrupt the system, we must disrupt our lives, cut the cable tv)
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To: rktman
I interviewed with Ford Product Development for a job as financial analyst when I was about to get out of grad school. This was right before the Arab oil embargo.

Their financial honcho asked me what kind of car I drove. VW bug. And he asked me where I thought the auto industry was going. I told him I obviously thought cars would get smaller and more fuel efficient...which is why I drove a beetle.

It must have really pissed him off because I was immediately thereafter told I wouldn't be returning for more interviews.

I was later advised by the guy guiding me through the interview process that telling the truth was not advisable. I should have said that I liked big gas guzzlers because that's where their biggest profit margins were.

I obviously didn't get an offer and soon Ford hit the skids.

If they had only listened to me, they could have avoided a lot of trouble.;-)

32 posted on 02/15/2023 7:07:41 AM PST by RoosterRedux
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To: rktman

it is definitely more competitive...market share as compared to ICE cars is shrinking fast, and every auto maker is going all in on EVs....bizarre


33 posted on 02/15/2023 7:08:00 AM PST by ConservativeDude
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To: rktman

Doubt I’ll still be around to see it, but I sincerely hope that every company cucking itself for the watermelons’ all-electric transportation psychosis goes so broke they can’t buy a sandwich.


34 posted on 02/15/2023 7:11:00 AM PST by tomkat (SOTU = FUBAR)
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To: Red Badger

Shows they don’t research before they buy.


35 posted on 02/15/2023 7:11:21 AM PST by GailA (Constitution vs evil Treasonous political Apparatchiks, Constitutional Conservative.)
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To: rktman

The PR piece is not reality.

Ford is continuing to lose market share and is in reality a truck company. The attempts to transition to EV’s is beyond their engineering design and manufacturing capabilities.

To survive in America, Ford must die abroad

Ford’s problem is existential


36 posted on 02/15/2023 7:11:46 AM PST by bert ( (KWE. NP. N.C. +12) Juneteenth is inequality day )
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To: Sirius Lee

I hope Toyota hangs tough. You know they are feeling the heat because they are the only one not on script.


37 posted on 02/15/2023 7:13:24 AM PST by gibsonguy
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To: RoosterRedux

aren’t bicycles made of steel?

how are they gonna have enough electricity for the steel manufacturing process to make all those bikes?

oh, wait, we get all steel from China. I guess that’s how.


38 posted on 02/15/2023 7:14:24 AM PST by ConservativeDude
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To: rktman

I have a 13 year old Ford truck with 300K miles.

I was going to go with Ford again because of the experience I have had with this one.

Given what is going on, I am looking more at a Toyota Tundra.


39 posted on 02/15/2023 7:15:38 AM PST by Texas resident (Who is running our country?)
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To: rktman

Meanwhile...

https://www.cnbc.com/2023/02/14/ford-halts-f-150-lightning-production.html

https://www.caranddriver.com/news/a42893211/ford-f-150-lightning-stop-build-stop-ship-order/

Ruh roh.


40 posted on 02/15/2023 7:16:19 AM PST by mewzilla (We will never restore the republic if we don't first secure the ballot box.)
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