Ford announces job cuts as it seeks to balance near-term profits with long-term goals
Ford announces job cuts as it seeks to balance near-term profits with long-term goals
There’s news that Ford will cut about 10 percent of its global workforce in an effort to help lift its stock. Ford’s CEO Mark Fields has been out there talking about the future of his company as a “mobility” firm that could offer services like car sharing. These are long-term strategies for Ford’s health, the kind of do-what-it-takes, put-it-all-on-the-table strategies that helped the company survive the Great Recession without declaring bankruptcy. Problem is, shareholders are impatient, and while Ford has remained profitable, its stock is near a five-year low. Investors don’t want Ford focused too much on these long-term innovation plays if that means forsaking short-term profits.
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