Seeing a twisting road ahead, Ford cuts 7K white-collar jobs

[Elderberry]

Houston Chronicle by TOM KRISHER May 20, 2019

Ford revealed details of its long-awaited restructuring plan Monday as it prepared for a future of electric and autonomous vehicles by parting ways with 7,000 white-collar workers worldwide, about 10% of its global salaried workforce.

The major revamp, which had been under way since last year, will save about $600 million per year by eliminating bureaucracy and increasing the number of workers reporting to each manager.

In the U.S. about 2,300 jobs will be cut through buyouts and layoffs, Ford said. About 1,500 have left voluntarily or with buyouts, while another 300 have already been laid off. About 500 workers will be let go starting this week, largely in and around the company's headquarters in Dearborn, Michigan, just outside Detroit. All will get severance packages.

The layoffs are coming across a broad swath of the company including engineering, product development, marketing, information technology, logistics, finance and other areas. But the company also said it is hiring in some critical areas including those developing software and dealing with self-driving and electric vehicles.

More: https://www.houstonchronicle.com/news/us/article/Ford-is-cutting-7-000-white-collar-jobs-13858862.php

[Cyber Liberty]

My old company, based in Netherlands, made me this offer.  I fled before the door could hit me on the butt.  I went for early retirement with Mrs. Liberty, and I never looked back.  Not once.

[Elderberry]

Years ago my old company was downsizing and asking for volunteers for early retirement. I asked and they said I was eligible, but wouldn't divulge how much. I stayed on for quite a few more years before they finally let me go.

[corbe]

   I worked for a small company and the old azzhole that ran it was just too demanding so when he started kicking around the idea that he was considering retirement, I encouraged it. 
   Though poorer, we are both much happier now.

   PS:  It was my own Company.

[Elderberry]

My dad always told me that I'd never get anywhere working for the other guy. He had his own business shortly after his WWII discharge. He wanted me to follow in his footsteps so he could leave the company to me. No Way Jose! I naturally hate work. So I acted/worked for the other guys until they finally caught on that they no longer needed this Space Shuttle downlink telemetry analyst. That was 3 years after the last flight. I ended up in a much better position than my dad did when he retired.

[mountaineer]

So no factory jobs lost (like GM shutting one of its plants in Ohio in recent years)?

[Free Vulcan]

Most large corporate companies have waaaaayyyyyyyyy too much managerial overhead on the payroll.

[Cyber Liberty]

My dad always told me that I'd never get anywhere working for the other guy. He had his own business shortly after his WWII discharge. He wanted me to follow in his footsteps so he could leave the company to me. No Way Jose! I naturally hate work. So I acted/worked for the other guys until they finally caught on that they no longer needed this Space Shuttle downlink telemetry analyst. That was 3 years after the last flight. I ended up in a much better position than my dad did when he retired.

My Dad was an Electrical Contractor and he gave me the opposite advice.  I took it, and saved up a net worth in the 7 figures over 35 years.  He worked until 85, I just retired at 60.  Working for "the other guy."  He also told me to never be a Manager who doesn't hire because getting stuck with a slacker can get you demoted or fired.

[Applewood]

My brother's employer offered buyouts from time to time.  First time one was offered, my brother had enough years in, but was just shy of the minimum age of 55.  Next time a buyout was offered, Bro was 57 and thus eligible, so he took the offer.  Full pension, company paid health insurance to Medicare eligibility and assorted other benefits -- what not to like?

Thing is, my brother said in reality, he had no choice but to take the buyout.  First time the buyout was offered, there were four other guys in his department who were eligible,  Three took the buyout, the fourth declined.  Then one day a few months later, the fourth guy was terminated -- supposedly, the company eliminated his position and had nothing else to offer.  He was given a severance, but nothing as generous as the buyout he declined.   

So if your employer offers you a good deal, take it.  Bro did and he says it was the best decision he ever made.

[thackney]

Years ago my old company was downsizing and asking for volunteers for early retirement. I asked and they said I was eligible, but wouldn't divulge how much. I stayed on for quite a few more years before they finally let me go.

It seems silly they believed anyone who wasn't already in a position to retire would take that.