Ford CEO says it's time to move on
Jan 25, 2019
CEO Jim Hackett addressed Ford employees via email about what he considers was a mediocre performance from the company in 2018. Ford's earnings report earlier this week shows that the company had revenue of $7 billion with a margin of 4.4%, but Hackett said that they aim to double that margin to keep up with the fast-changing industry. Ford had announced earlier this year that it would make cuts in European markets to be more profitable, and a partnership with Volkswagen to develop electric vehicles that will save Ford nearly $300 million. He added that the firm is working hard to provide more electric options and reminded the employees of the opportunities they missed in China.