Ford Update: CEO Mulally Says More Job Cuts Likely
On the Ford 4th quarter earnings conference call, CEO Alan Mulally confirmed what we expected (more buyouts for Ford's hourly workers) and made it clear, this may not be the end of the cuts.
Next week Ford will lay out the buyout packages for 13,000 retirement eligible UAW workers. The company won't say how many workers it hopes will take the deal, or how many of those jobs will be re-filled with lower wage workers hired under the new UAW agreement.
But even more important, Ford is not saying that it's categorically done with plant closings. None are planned, but on the earnings conference call, Mulally made it clear, his company will adjust its work staff and vehicle production to the market demand.
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