3/12/2019

CEO Hackett Says “Bright Future” for Ford Begins This Year

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Ford Motor Co. CEO Jim Hackett has told employees the company will turn a corner in its global overhaul this year and head “toward a really bright future,” The Detroit News reports.

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Ford Motor Co. CEO Jim Hackett has told employees the company will turn a corner in its global overhaul this year and head “toward a really bright future,” The Detroit News reports.

The memo is part of a series of internal emails dubbed the Huddle that aim to keep employees informed about Ford’s plan to streamline and realign itself for a future where personal mobility is defined by electrification, connectivity, autonomous vehicles and alternatives to personal car ownership.

Ford is spending $11 billion in a multi-year push to reform or eliminate poor-performing units, reduce its salaried workforce and cut more than $25 billion in operating costs. But critics say the pace seems slow, and the goals and objectives remain unclear.

Hackett’s internal memo follows another in January that urged employees to “bury” 2018 and Ford’s weak financial performance “in a deep grave” and focus this year on doubling the company’s profit margins.