It makes me so mad that the first thing Ford leadership does after reporting much better than expected results is to raise dividends instead of using some of the profits to save some of the thousands of jobs that are slated to be cut. Once again shareholders are put ahead of employees who do the actual work that brings in the profits. It's shameful.
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The Rivian investment was and still is a big win. I believe the average price per share that Ford paid was around 8 bucks. As the stock goes down or up it needs to be reported as a gain or loss even though Ford hasn't come close to selling all their shares. It's all part of the accounting rules.
A business should be held accountable to the public (tax dollars spend) and to the shareholders. Ford is putting up a front that they support American jobs, these cuts for EVs is bunk. The shareholders and taxpayers should have more transparency on the money wasted on the train station, Rivian Investment and lack of leadership spent of warranty costs.
What train station? What Rivian? What Warranty?
Even if they reduced the variants to just three; Base, Mid-range and High line, with only three vehicles there would still be massive losses.
This is a business, not a charity. If the management team doesn't think we will need as many people going forward, then profits have nothing to do with it. For example, we have way too many unique engines, and way too much staff supporting them. When management starts to trim the engine variants to something reasonable, we aren't going to keep all those people around just because Billy keeps telling us we are family. This is the painful truth, even if people don't want to acknowledge it. Very few companies would do it any different.
Down vote away!
Wholeheartedly agree! I’m a manager and bonuses were awarded before SRD in 2019. During employee meetings to discuss the bonus amount each person naturally wanted to discuss the upcoming cuts. While none of it was my decision and I was not asked for feedback about layoffs I found it embarrassing that Ford could afford the bonuses but couldn’t afford to keep employees. I, along with many others, would have gladly given up the bonuses and kept those who were let go.
I view the dividend as a marketing trick to make it seem like everything is looking great at Ford.
Costco’s Principles, written down for the company operation, which we can use some at Ford
- Obey the laws
- Take care members
- Take care employees
- Respect suppliers
- Then share-holders will benefit
It's capitalism. The wealthy provide the capital and expect that money to work for them. Anyone with a 401k is guilty of the same.