Ford Gets Big Bucks To Create Jobs...And Then Announces Layoffs! What??

We always celebrate around here when things happen to create jobs! Jobs mean Paychecks, and that’s kind of our thing. But we also try to be honest about things, too. Better an ugly truth than a pretty lie, right?

‍

So it’s with caution that we greeted the latest moves from the Michigan government to create more jobs here a few weeks ago. Now let’s take a look at how that worked out.

‍

Here are Five Fast Facts on Ford jobs:

1. 📝 The Bill - In March, Gov. Whitmer signed a bill giving Ford over $600 million to create new jobs for our state. It sounded like a win for all, woo-hoo!

2. 😡 The Track Record - Unfortunately, Ford’s recent track record of job creation isn’t so hot. Just last year, the state gave them $100 million with the intent of hiring 3,000 new employees…but they laid off 3,000 instead. Wait, what?? And they got to keep the money?

3. 💸 The Projection - Things aren’t exactly looking up for Ford, either. They lost $2.1 billion last year and are projected to lose another $3 billion this year as they shift to electric vehicles. All this despite the fact that EVs are stupid expensive.

4. 🪓 Another Round? In fact, even as they were receiving big bucks from the state, Ford was talking about another round of layoffs. Hmm…

5. 📣 The Announcement - On the day of this writing, Ford announced that they will be laying off at least 1,000 employees in North America, mostly engineers in the US and Canada. #srsly

‍

🔥Bottom line: So what gives here? Is this simply the state government bailing out a key local business? Is it payback for unions supporting the Governor’s last election? This doesn’t make financial sense at all, as it’s literally throwing huge chunks of taxpayer money at a company that appears to be not just sinking but sinking faster with each passing year. When will the pointed questions start flowing?

‍

What do you think about this situation?

‍

Let us know by connecting with us on Facebook and Instagram! Also, remember to share this newsletter with your friends & coworkers!

‍

BTW, If you’ve read this far and haven’t yet signed up for the weekly Paycheckology newsletter, CLICK HERE!

‍