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Ceo Jim Farley

All articles tagged with #ceo jim farley

labor-relations1 year ago

"Ford Faces Potential Strikes and Factory Moves Amid Union Tensions"

The United Auto Workers union is threatening to strike at Ford's Kentucky Truck Plant on Feb. 23 if a dispute over the local contract is not resolved, just a day after Ford CEO Jim Farley said union activity was prompting the company to reconsider its plant placements. The union cites issues including health and safety, nurse staffing, and skilled trades workers as points of contention. Farley acknowledged the impact of last year's strike, which cost the company $1.7 billion, and resulted in significant raises and contract changes for UAW members, leading to nearly $9 billion in extra costs for Ford.

businessfinance1 year ago

Ford's Earnings Surge and EV Strategy Shift Propel Stock Rally

Ford Motor's stock is on the rise in pre-market trading following the announcement of fourth-quarter results that exceeded analyst expectations and the declaration of a supplemental dividend. CEO Jim Farley outlined the company's plans for new vehicles, including a focus on larger trucks and SUV EVs, as well as smaller cars. Despite anticipated steeper losses in 2024 due to increased investment, investors are optimistic about Ford's future prospects.