Texas News Today: Detroit-Ford Motor Company discontinued production in India, closed two large plants in India, and CEO Jim Farley restructured the automaker’s business as part of a turnaround plan, resulting in thousands of employees I was fired.
The company said the proceedings would cost about $ 2 billion on Thursday, including about $ 600 million in 2021 and $ 1.2 billion in pre-tax special costs in 2022. Approximately $ 300 million of the $ 2 billion is non-cash costs, including accelerated depreciation and depreciation. To the company.
Ford has two vehicle and engine plants in Chennai and Sanand in a country that employs thousands of employees. Ford said Sanand would be out of production by the end of the year, followed by Chennai by the second quarter of 2022.
According to the company, about 4,000 people will lose their jobs as a result of the plan.
Ford Motor Company CEO Jim Farley will speak at a press conference at the Rouge Complex in Dearborn, Michigan, on September 17, 2020. more
Is Ford leaving all the assets for the Indians to use?
Ford doesn’t want to lose out when China and Pakistan attack India.
“Ford is not completely out of the market. According to the company, India will continue to be home to Ford’s second-largest office worker in the world.”
WTF does that even mean?
Ford had been a disappointing investment for years. I see they’re not getting any better.
Iz CEO Jim Farley still living in that Econoline down by the river?
@JD: “WTF does that even mean?”
Means the writer is not a native English speaker, or is a recent college grad.
Are we the taxpayers subsidizing this??
@Conservative Cowgirl
The Great North American Auto Worker & Its UNIONS have been subsidized by the Taxpayers in the USA & Canada forever.
If you really want to piss one off ask them:
“Why should You get paid More than a real Mechanic that has to Fix the Shit You Produce?”
Good times Guaranteed!
I wish they still built the Econoline E-250.
The New vans are PURE SHIT!
@JDHasty
It means Call centers, Credit & finance, paper & warranty process etc.
@JDHasty – “…WTF does that even mean?…”
That could be said about the whole article, as it made little sense.
@TRF – “…Iz CEO Jim Farley still living in that Econoline down by the river?…”
It took me two reads to catch the connection – good one!
How’s the Gay Ford selling?
https://www.republicworld.com/world-news/europe/ford-unveils-very-gay-car-with-rainbow-colours-to-shut-down-trolls-homophobic-comment.html
$2 BILLION just to CLOSE the damn plants?! Jesus Christ, what did it cost to actually run them and produce something that would generate revenue???
@Lowell..”@JD: “WTF does that even mean?””
It means.. they’ll still be a call center offering extended warranties
.
FORD is an affiliate-accomplice of the George Soros lowlife and has been a collaborator for some time.
Explains why Ford engines are Fix or Repair Daily. The lost me as a customer in 1979, avoid them like the plague.