Craig Murphy’s Post

Ford, General Motors, and Stellantis plan to slash thousands from their workforce in the coming months. Volkswagen has announced plans to shutter three of its factories in Germany, which could come with massive layoffs. https://lnkd.in/gW6r6eWR #AutowotkerWipeout

Ford, General Motors, and Stellantis plan to slash thousands from their workforce in the coming months. Volkswagen has announced plans to shutter three of its factories in Germany, which could come with massive layoffs.

"Major automakers around the world have announced layoffs and factory closures in recent weeks. (...) This is due to unprofitable EV investments, Chinese market losses, and more domestic competition (...) the world's major carmakers, they aren't facing one issue but an agglomeration of several significant interconnected challenges at once. Add to that an ultra-competitive business with high overhead costs and low profit margins, and things quickly get very difficult (...) A massive and expensive pivot to EVs has failed to turn a profit" #automotiveindustry https://lnkd.in/ehjTTgUu

Auto worker wipeout: Why car companies are cutting thousands of jobs? Major automakers around the world have announced multiple rounds of layoffs and factory closures in recent weeks as they struggle to turn a profit on EVs and face a potential onslaught of cheaper competition. Ford, General Motors, and Stellantis plan to slash thousands from their workforce in the coming months. Volkswagen has announced plans to shutter three of its factories in Germany, which could come with massive layoffs. Major automakers around the world have announced multiple rounds of layoffs and factory closures in recent weeks as they struggle to turn a profit on EVs and face a potential onslaught of cheaper competition. Ford, General Motors, and Stellantis plan to slash thousands from their workforce in the coming months. Volkswagen has announced plans to shutter three of its factories in Germany, which could come with massive layoffs.

Major automakers like Ford, GM, Stellantis, and Volkswagen are announcing massive layoffs and factory closures as they struggle with EV profitability, rising competition from Chinese manufacturers, and high operational costs. https://lnkd.in/gW6r6eWR #AutowotkerWipeout

Major automakers around the world have announced multiple rounds of layoffs and factory closures in recent weeks as they struggle to turn a profit on EVs and face a potential onslaught of cheaper competition. Ford, General Motors, and Stellantis plan to slash thousands from their workforce in the coming months. Volkswagen has announced plans to shutter three of its factories in Germany, which could come with massive layoffs. Unfortunately for the world's major carmakers, they aren't facing one issue but an agglomeration of several significant interconnected challenges at once. Add to that an ultracompetitive business with high overhead costs and low profit margins, and things quickly get very difficult. When market dynamics, regulatory requirements, and financial costs shift dramatically in a relatively short period of time, the results can be dire. Read more about why car companies are cutting thousands of jobs on Business Insider: https://lnkd.in/dvu8M4Fg (Credit: Getty Images) #carcompanies #cars #layoffs #careers

Stellantis has reduced employee head count by 15.5%, or roughly 47,500 employees, between December 2019 and the end of 2023, including a 14.5% reduction in North America, according to public filings. That doesn't include further head count reductions and layoffs this year. The automaker had only about 11,000 U.S. salaried employees at the end of last year. That compared with 53,000 at General Motors and 28,000 at Ford. The reductions have occurred as Stellantis has attempted to outsource many engineering efforts to lower-cost countries such as Brazil, India and Mexico, according to several people familiar with the moves. https://lnkd.in/gwg--ZtD

🚗 Auto Industry Evolution: Navigating Through Challenges and Changes 🚗 Dealers in today’s marketplace are asking the question, “where are we going?” This year has been a tough one for the auto industry, with significant layoffs across major OEMs. Here's a look at the notable cuts and the reasons behind them: 1. General Motors (GM): Nearly 1,000 workers, mainly in the U.S., laid off as part of a $2 billion cost-saving initiative. 2. Stellantis: Laid off 2,450 workers in Michigan and 1,100 in Ohio, facing a 20% drop in U.S. sales. 3. Ford Motor Co.:Cut shifts at its F-150 Lightning EV plant in Michigan due to weaker-than-expected demand. 4. Bosch: Plans to cut 5,500 jobs globally over the next several years due to overcapacity. 5. Volkswagen: Potential closure of three factories in Germany, with effects yet to be fully seen in the U.S. 6. Nissan: Anticipated significant layoffs, numbers undisclosed. 7. BMW: Reduced workforce by 2,000 jobs in Germany. 8. Mercedes-Benz: Cut 1,500 jobs in Germany. 9. Volvo: Announced 1,200 job cuts globally, primarily in Sweden. 10. Hyundai: Reduced workforce by 1,000 jobs in South Korea. 11. Mazda: Announced 800 job cuts in Japan. 🧠 Why Are These Layoffs Happening? - Economic Pressures: Global economic downturns and market fluctuations have forced companies to tighten budgets. - Technological Shifts: The transition to electric and autonomous vehicles requires new skill sets and reduced demand for traditional roles. - Sales Declines: Lower-than-expected vehicle sales, particularly in certain segments like EVs, have led to decreased production and workforce reductions. - Cost-Saving Measures: OEMs are implementing extensive cost-cutting strategies to remain competitive. 👀 Looking Ahead: The Next Few Years The auto industry is facing a period of transformation and adaptation, leaving dealers and OEMs looking for their path forward, let’s take a look at some of the causes for the changes in today’s automotive industry. - Increased Investment in Technology: Continued investment in electric and autonomous vehicle technology will shape the future landscape. - Restructuring and Reskilling: Companies will focus on restructuring their workforces and reskilling employees to align with new technological demands. - Emerging Markets: Growth opportunities in emerging markets will become increasingly important. - Sustainability: A stronger emphasis on sustainability and environmental impact will drive innovation and new business models. As we navigate through these changes, resilience and adaptability will be key for both businesses and employees. The auto industry has always been a cornerstone of innovation, and while these layoffs are challenging, they also signal a time of significant transformation and growth. 🌟 What other changes do you anticipate over the next 5-10 years? 🛻 #AutoIndustry #Layoffs #Innovation #Restructuring #FutureOfMobility #ElectricVehicles #Sustainability

Well collapsing legacy auto-maker Ford Motor Company planning a whopping 4,000 layoffs in Europe https://lnkd.in/emZj6eA9 How soon before Ford does layoffs in the USA and other countries too? As Ford massive troubles keep getting worse. And Ford #stock price is plummeting down badly. Amid unprecedented competition and #economic headwinds and #financial troubles and sky-high labor costs and sky-high non-labor operating costs and reglatory issues and slow EV sales etc. Is this the beginning of the end for Ford? CONTACT ME FOR REAL HELP NOW. I am available for a #CEO / #CIO and #board positions or #advisor to, or high-paid Synon2e/RPG techie. FINALLY READY FOR ME TO HELP SAVE YOUR COMPANY OR BUSINESS OR GOV-AGENCY? Send me a #LinkedIn Message or InMail for real help before it is too late. #news Fox Business Network LinkedIn #cfo LinkedIn News Bill Ford #economy #finance #coo

The Verge - Ford retracts un Europe with layoffs and lower EV production. The automaker will adjust production of its Explorer and Capri EVs, and will also cut 4,000 jobs. https://lnkd.in/gbUWyq9x