Imagine what they'll do if they're expecting a recession
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When they laid off in 2019, we had record profits and times were good.
Layoffs were totally unexpected.
They just wanted to increase EBIT to impress wall street and to goose the stock price so executives would get pricier shares when they cashed in their options
HR was asked in the "all people" if there is a hiring freeze. The reply was that we are in a "hiring PAUSE" - same thing. That's a pretty mild form of belt-tightening but it also shows that the management is being proactive and willing to take "necessary action".
I'm always concerned but not worried. There are too many boomers retiring and our teams are lean. If you are sidelined, be proactive and ask for more work. Management is well aware of who's doing what. Right now there are chip shortages, record car repossessions and a recession on the horizon, so make sure you are seen as valuable.
We are all good. A lot on boomers are retiring.
Never say never, but we cut 15% of the salaried workforce in 2019 in addition to factories. Ford’s “smart redesign” at the time barely reduced headcount. Even this reduction is about 6% of Ford’s salaried headcount. They have not come close to the bloodletting that we went through.
Mary is a much better leader
GM had let go 19kish people back in 2018ish to 2019. We have done the reorganization
I am worried. Has anyone heard anything from the management team yet?
Why? They are not owned or run by the talented Ford family. Ford, They like a Farley, and even brought Jay Leno to town this weekend. The laughs in Dearborn.
We already had the house cleaned in 2019 and a fresh hiring spree until last month. I think we did reset the workforce, we are lean now and ready for the upcoming recession.