Up and down, side to side, into free fall, and back again.
No, it's not your favorite roller coaster at Cedar Pointe - it's just the "Ford Flip Flop" - an ongoing saga of the Ford Motor Company's foray into Electric Vehicle production.
What's with the whiplash? Here's the Five Fast Facts you need to know …… :
- 🚌 Back that (EV) Bus Up - Just last month, we reported that Ford was investing $3.7 billion into its electric vehicle program, which would have potentially added 6,200 union jobs in Michigan alone.
- 🏁 How it Started - In June, Michigan gifted Ford a $100 million legislative transfer that was approved by 148 folks - just a tiny fraction of Michigan's lawmakers.
- ⚠️ How it's Going - Then came the startling news that Ford plans to lay off up to 8,000 workers. So what gives?
- ☠️ The Slaughter - The rumor is that Ford is preparing to lay off 8,000 salaried employees, or almost a quarter of its US workforce, to save $3 billion in operational costs by 2026.
- 🤐 Staying Mum - Plans are not finalized yet, and Ford management is staying particularly quiet on the issue. Reports are surfacing, however, that the layoffs would be in the internal combustion engine division. This news leaves many folks scratching their heads since Ford initially said this department would be critical in providing revenue to fund the EV division's growth.
🔥Bottom line: If you have whiplash from how this story unfolded, you're not alone. This one is leaving us all befuddled; next time, we'd prefer the actual roller coaster to this nonsense. But as always, we'll keep you posted with every twist and turn.
Do you know someone at Ford? What is the gossip from the factory floor? Let us know by connecting with us on Social Media and be sure to share this newsletter with any friends & coworkers!
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