https://www.dailymail.co.uk/news/article-11711507/Ford-CEO-Jim-Farley-slams-absenteeism-warns-make-cuts.html

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Ford CEO Jim Farley has hit out at 'absenteeism' after his company returned shocking annual earnings - as he warned the iconic automaker will be forced to make urgent cuts to turn itself around.

The motor company fell well short of the mark as its fourth-quarter returns rolled in on Thursday, where it missed its target earnings for the year by up to $2 billion.

Following the dismal returns, Farley listed off a number of factors that have led to the decline, where he lay the blame at a lack of efficiency and a rise in 'absenteeism'.

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The business leader's call to action comes as a rise in work-from-home employment has rocked numerous industries following the pandemic.

Ford reported 2022 adjusted earnings of $10.4 billion, despite telling analysts it expected to make between $11.5 billion and $12.5 billion just three months earlier.

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Farley's condemnation of office 'absenteeism' comes amid several business leaders taking aim at plummeting workplace standards and woke entitlement from young employees that have hurt their businesses.

A poll conducted in New York last November found that young workers had record-high salary expectations.

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Several Wall Street bosses expressed frustration at the summit at staff continuing to stay away from the workplace since the pandemic.

Larry Fink, chief executive of BlackRock, the world's biggest asset manager, hit out at the practice when he spoke at the Bloomberg event.

He said: 'Remote working has not worked.'

And on Thursday, Home Depot founder Bernie Marcus slammed the current generation for prioritizing 'woke' issues over profits.

The 93-year-old billionaire said he was dismayed to see the world's business leaders meeting in Davos this year supporting investment in issues that 'don't hit the bottom line'.

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'I don't really understand the new leadership,' he said on Fox Business Network.

'We need new leaders who are thinking about the shareholders and their employees. I think today it's all about woke, diversity - things that don't hit the bottom line.

'They want to work three days a week,' he said, as he took aim at lazy modern office workers being entitled while expecting to work short hours.

Just as Farley has pointed the finger at poor work practices for hurting the company's productivity, Marcus previously said that his hugely successful retail company would have suffered under modern business culture.

Hitting out at falling standards, he assigned blame to human resources executives, government bureaucrats, regulators, socialists, Harvard graduates, MBAs, Harvard MBAs, lawyers, accountants, Joe Biden, the media and 'the woke people'.

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With layoffs mounting and the economy slowing down, corporations will cull the herd and eliminate the fat. It's human nature to be lazy, that's why socialism always fails. The empowered young employees are about to feel the full power of the dark side by corporate America.

Our productivity skyrocketed with work from home. We do a hybrid two at office 3 at home. I'll retire before I go back to full time office work.

Still blows my mind that Chris Farley's brother runs Ford. Ooops, he's his cousin.

Maybe ford, home depot and black rock's thoughts have a bit more weight?

It sounds like boomers are mad about WFH and are punishing people for finding it more convenient. What's more important: butts in seats at an office or results?

Perhaps companies should embrace the opportunity instead of insisting on garbage commutes every single day of the work week. It's not necessary. Do some people perform worse with WFH? Sure they do. Address them, and don't blame the people that still work well at home.

Corporate America and older CEOs need to be brought to heel in many ways, including the wokeness and the aversion to common sense.

Also, on a somewhat unrelated note, CEOs generally need to be publicly humiliated on a regular basis to eliminate narcissists. It should be a requirement for the job.

Teslag said:

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Our productivity skyrocketed with work from home. We do a hybrid two at office 3 at home. I'll retire before I go back to full time office work.

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Same. These CEOs coming out with this stuff are dinosaurs. We aren't going back to the way things were before, the temper tantrums aren't going to change that.

Blaming work from home bc cornpop ran the country into the ground


Not too worry, more fake job numbers will fix it

Excuses to cut people during the downturn.

If management can't inspect what they expect (metrics) regardless of where the employee sits, it is a failure on their business. They lost 2bn because of supply chain screw ups, investment in Rivian, and a huge decrease in reliability (the #1 failure in recalls by a huge margin.)

I love it when the C Suite blames everyone but their own terrible work. The Mach E was a HUGE flop. Their delivery of the Maverick was a joke, and 120k for a lightning? and over 100k for the Broncos?

So much wrong with Ford, and I was a life long client.

I was miserable working from home during peak COVID. Only regret is taking the jab so I could get back in the field. I'm sure plenty of people do well in a WFH environment, but I'd guess far more slack off

FIDO*98* said:

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I was miserable working from home during peak COVID. Only regret is taking the jab so I could get back in the field. I'm sure plenty of people do well in a WFH environment, but I'd guess far more slack off

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Fire the slackers, then.

Teslag said:

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Our productivity skyrocketed with work from home. We do a hybrid two at office 3 at home. I'll retire before I go back to full time office work.

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[Stop derailing or earn a ban. There's your warning -- Staff]

In the next 5 years the only employees available will be lazy millennials. Good luck to everyone!

CEOs are the ones who let the cat out of the bag by supporting this covid bull**** in the first place.

So good luck trying to unring that bell.

ProgN said:

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https://www.dailymail.co.uk/news/article-11711507/Ford-CEO-Jim-Farley-slams-absenteeism-warns-make-cuts.html

Quote:

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Ford CEO Jim Farley has hit out at 'absenteeism' after his company returned shocking annual earnings - as he warned the iconic automaker will be forced to make urgent cuts to turn itself around.

The motor company fell well short of the mark as its fourth-quarter returns rolled in on Thursday, where it missed its target earnings for the year by up to $2 billion.

Following the dismal returns, Farley listed off a number of factors that have led to the decline, where he lay the blame at a lack of efficiency and a rise in 'absenteeism'.

---

Quote:

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The business leader's call to action comes as a rise in work-from-home employment has rocked numerous industries following the pandemic.

Ford reported 2022 adjusted earnings of $10.4 billion, despite telling analysts it expected to make between $11.5 billion and $12.5 billion just three months earlier.

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Quote:

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Farley's condemnation of office 'absenteeism' comes amid several business leaders taking aim at plummeting workplace standards and woke entitlement from young employees that have hurt their businesses.

A poll conducted in New York last November found that young workers had record-high salary expectations.

---

Quote:

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Several Wall Street bosses expressed frustration at the summit at staff continuing to stay away from the workplace since the pandemic.

Larry Fink, chief executive of BlackRock, the world's biggest asset manager, hit out at the practice when he spoke at the Bloomberg event.

He said: 'Remote working has not worked.'

And on Thursday, Home Depot founder Bernie Marcus slammed the current generation for prioritizing 'woke' issues over profits.

The 93-year-old billionaire said he was dismayed to see the world's business leaders meeting in Davos this year supporting investment in issues that 'don't hit the bottom line'.

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Quote:

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'I don't really understand the new leadership,' he said on Fox Business Network.

'We need new leaders who are thinking about the shareholders and their employees. I think today it's all about woke, diversity - things that don't hit the bottom line.

'They want to work three days a week,' he said, as he took aim at lazy modern office workers being entitled while expecting to work short hours.

Just as Farley has pointed the finger at poor work practices for hurting the company's productivity, Marcus previously said that his hugely successful retail company would have suffered under modern business culture.

Hitting out at falling standards, he assigned blame to human resources executives, government bureaucrats, regulators, socialists, Harvard graduates, MBAs, Harvard MBAs, lawyers, accountants, Joe Biden, the media and 'the woke people'.

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With layoffs mounting and the economy slowing down, corporations will cull the herd and eliminate the fat. It's human nature to be lazy, that's why socialism always fails. The empowered young employees are about to feel the full power of the dark side by corporate America.

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Until they riot and loot and burn down cities under the banner of inequality, when it's really just basic economics. You don't get much done working from home, so I'd rather fire the people I don't see everyday when times get tough for the company. Here's your severance package...hit the free stuff line down the street Gen Z and remember to vote for hope and change...

Stat Monitor Repairman said:

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CEOs are the ones who let the cat out of the bag by supporting this covid bull**** in the first place.

So good luck trying to unring that bell.

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The good ones made it work, and now enjoy a talent advantage compared to the dinosaurs.

WFH works very well in some industries with some people, hybrid works in even more. There are definitely folks that don't do well in WFH and need more structure or interaction. There are industries and company cultures where WFH will fail.

If you are in a business though that involves heavy computer usage and conference calls with teams that are in a variety of locations it makes the most sense. It makes even more sense if that spans a lot of time zones and your job requires working at odd hours because of it.

Technology affords us many wonderful opportunities but it also requires discipline to take advantage of it. It's kind of like how some people utilize credit cards to earn miles and rewards while paying them off diligently and others overextend and it's a disaster.

Teslag said:

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Stat Monitor Repairman said:

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CEOs are the ones who let the cat out of the bag by supporting this covid bull**** in the first place.

So good luck trying to unring that bell.

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The good ones made it work, and now enjoy a talent advantage compared to the dinosaurs.

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Do you have a percentage of the good and bad? Judging by at home school, I can't imagine it's great for the stay at home crowd/

Torn on this issue. I'm not a huge fan of big companies anymore because they have evolved into the execution arm of government and insane policies, in many cases. I won't ever work for one again if I can avoid it.

Having said that, I don't blame CEOs for wanting people back in the office. That whole world is evolving into a total mercenary environment. All that means to me as an executive is constant, high turnover. Nightmare of you are a company that has never had too big of an issue with that. You solve that by being a great place to work and paying well. Yet the younger generations don't give a damn about much. Whole generation just wants to be contractors basically. Fascinating game of chicken we are watching.

Signel said:

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Excuses to cut people during the downturn.

If management can't inspect what they expect (metrics) regardless of where the employee sits, it is a failure on their business. They lost 2bn because of supply chain screw ups, investment in Rivian, and a huge decrease in reliability (the #1 failure in recalls by a huge margin.)

I love it when the C Suite blames everyone but their own terrible work. The Mach E was a HUGE flop. Their delivery of the Maverick was a joke, and 120k for a lightning? and over 100k for the Broncos?

So much wrong with Ford, and I was a life long client.

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So slowed design, bad work:supply chain efforts couldn't be because of worse comms by being remote? Some of these things that lead up to the ceo 100% could be because the worker bees are working at slower or less effective passes.

There are plenty of people who are great wfh… and plenty that abuse the hell out of it. Lots of comms delay in general in big Corp environments. Questions we used to be able to turn and ask real quick are now teams messages answered a day later or a call 3 days later because of no availability.

I love our hybrid, but it's def not as rosy as many of y'all are making it out to be as a whole. The mediocre to bad employee before, is awful now. Most places haven't figured out quicker onboarding too.

here is what i know if corporations do not get employees to go back to the corp buildings they used to work in their is going to be a lot of empty space available. it seems as though there could be some cracks in the commercial real estate space.

A 93-year old doesn't like remote work? I'm shocked, shocked I tell ya.

The companies are free to set the policies and the employees are free to leave if they don't like it. The market will sort it out, but I'm guessing ultimately companies will have to pay a premium for good talent to work in-person going forward.

Silly me, I thought lack of chips was the problem.

Ford should build a chip manufacturing plant if they want to actually fix the problem.

Detmersdislocatedshoulder said:

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here is what i know if corporations do not get employees to go back to the corp buildings they used to work in their is going to be a lot of empty space available. it seems as though there could be some cracks in the commercial real estate space.

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I'm in roofing and have done inspections on commercial buildings where you have to go through offices to get roof access. A surprising amount have a couple ladies at their desk in a big room with lots of desk and no one else there. Your post would not surprise me at all.

*old man yells at cloud*

I do not understand why certain demographics just absolutely will not listen to research showing remote working is not the actual issue..... oh, yeah I do, they don't want to admit the years of bribery and political tampering has resulted in the economic crash of the US by keeping idiots in power....

aggie93 said:

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WFH works very well in some industries with some people, hybrid works in even more. There are definitely folks that don't do well in WFH and need more structure or interaction. There are industries and company cultures where WFH will fail.

If you are in a business though that involves heavy computer usage and conference calls with teams that are in a variety of locations it makes the most sense. It makes even more sense if that spans a lot of time zones and your job requires working at odd hours because of it.

Technology affords us many wonderful opportunities but it also requires discipline to take advantage of it. It's kind of like how some people utilize credit cards to earn miles and rewards while paying them off diligently and others overextend and it's a disaster.

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I'm in the industrial distribution field. We rely heavily on manufacturers and their sub suppliers. It has been a 2yr nightmare trying to get updates on progress from your supply chain when half of them are working from home and not at the facility where the action is happening

No doubt some industries can make WFH work. IMO Mine is not one of them.

How do you get in power if you don't leave your house?

From what I have seen, work at home is good non-supervisory employees (not actually doing said 40 hours of work they charge) and makes life even more miserable for managers picking up their slack

Waffledynamics said:

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FIDO*98* said:

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I was miserable working from home during peak COVID. Only regret is taking the jab so I could get back in the field. I'm sure plenty of people do well in a WFH environment, but I'd guess far more slack off

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Fire the slackers, then.

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- Seek first to understand
- Attempt coaching said employee
- Reach out to HR
- Begin documentation, now harder due to WFH
- Put slacker on a plan
- Employee goes on "mental health leave protected by HIPPA"
- Employee comes back for 2 weeks and goes back on leave

Manufacturing facilities require boots on the ground to manufacture products. But they also require butts in seats to manage supply chains. Yes, someone could manage a supply chain from home; however, with global supply chains and lean manufacturing the goal is to minimize inventory and costs, which takes a lot of agile effort and constant communication to keep the facility running.

Teams can get torn apart when the logistics team is not on site because every hiccup is an opportunity for lost productivity which will quickly turn into finger pointing at a bunch of people who are faceless names that continually run you out of material. Or vice versa the production team messes something up and screws over the supply chain.

This translates across other industries as well, when teams are a bunch of people you have never met, it can become extremely toxic. When you have to look that person in the eyes and solve a problem together it can be a great thing. When you are behind a keyboard and computer screen it can become toxic fast.

Just look around here, we treat each other like crap because we are just user names, but put a person in front of a person and great things can happen.

Democrats want everyone working from home, without a car, and living in 200 square foot coffin apartments in crime ridden areas like Travis and Harris County. They want to destroy the suburbs with apartments. They seethe uncontrollably at 99. Humans are social creatures. We are meant to interact with people at work. It improves performance and innovation. That is how Xerox at PARC created the most important invention of all time: graphical user interface. You can't even discuss college football around the water cooler anymore. You have to do it through Skype. Democrats look at crime as a feature. They want crime to get so bad that you are too afraid to even go to the grocery store. They want you to Amazon Prime everything to your house to appease the climate cult.

The CEO needs to look in the mirror. Ford was the most-recalled auto manufacturer in 2022 along with having dealerships add ridiculous "market adjustments'' to vehicles that were in short supply due to supply constraints.

Ford's stock dropped 7.6% today and it wasn't because of WFH.

I'm fully remote but we are a tiny startup so we all have skin in the game. There is no slacking off. The work gets done or our owner fires you.

It's going to be interesting how we evolve if we grow like we hope to. I personally don't see 100% remote working at scale over the long haul but that's just my opinion.

Eso si, Que es said:

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Manufacturing facilities require boots on the ground to manufacture products. But they also require butts in seats to manage supply chains. Yes, someone could manage a supply chain from home; however, with global supply chains and lean manufacturing the goal is to minimize inventory and costs, which takes a lot of agile effort and constant communication to keep the facility running.

Teams can get torn apart when the logistics team is not on site because every hiccup is an opportunity for lost productivity which will quickly turn into finger pointing at a bunch of people who are faceless names that continually run you out of material. Or vice versa the production team messes something up and screws over the supply chain.

This translates across other industries as well, when teams are a bunch of people you have never met, it can become extremely toxic. When you have to look that person in the eyes and solve a problem together it can be a great thing. When you are behind a keyboard and computer screen it can become toxic fast.

Just look around here, we treat each other like crap because we are just user names, but put a person in front of a person and great things can happen.

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Excellent point you ahole.

Teslag said:

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Our productivity skyrocketed with work from home. We do a hybrid two at office 3 at home. I'll retire before I go back to full time office work.

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I actually have data for our workplace and productivity does NOT skyrocket. Productivity at home is consistently less then at work, plus you are missing out on the intangibles of at work collaborations in person. It does depend on the nature of the position somewhat but I can promise you overall no businesses are seeing productivity 'skyrocket' at home.

A real enterprising person will hire on at two or three places and work from home for each of them.