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How Is This Not A Recession? Ford To Slash 10% Of Global Workforce

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Having admitted in March that "used car prices will drop for years" and amid near-record inventories,  a so-called 'plateau' in car sales, and soaring auto-loan losses, WSJ is reporting that Ford is planning substantial cuts to its global workforce amid CEO Mark Fields’s drive to boost profits and address the auto maker’s sliding stock price, according to people briefed on the plan.

With near record high inventories of 3.9 million vehicles...

20170126_inv_0.jpg

 

http://www.zerohedge.com/news/2017-05-15/how-not-recession-ford-slash-10-global-workforce

 

 

Looking at that graph, I would say its about 4 years too late to be cutting the work force.  But it would seem, like much of America, it is run on the concept of wishful thinking.  "Lets keeping making cars, as we might get a boom."   If you cut early, you cut less.  Look at what happened in the 2009 crash, they went from 3.2 million down to 1.5 million.  How?    It wasnt due to the feel good factor of people buying  the cars because the economy was good, I would guess they cut manufacture down to zero and gave away their existing stock at cut throat prices.

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Stock symbol: just the letter F.

  1. I don't care if you're black or white.
  2. Detroit is flooded with crack, meth, and heroin.
  3. You can't build quality cars and trucks when you do street drugs. 
  4. You can't operate heavy machinery without injuring or killing your co-workers when you do street drugs.

The most visible sign of any Ford Motor factory sites is a large sign pointing the way for ambulances to enter the worksite.  It looks like it's needed way too often.

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