Automotive and Transportation Automotive and Transportation
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Ford slashes manager stock bonuses to cut costs, boost performance


Published on 2025-02-18 16:01:32 - Reuters
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  • About half the middle managers at Ford Motor will not get stock bonuses this year in what is seen internally as CEO Jim Farley's latest attempt to cut the automaker's bloated costs, according to six people familiar with the matter.

Ford Motor Co. has decided to significantly reduce stock bonuses for its managers as part of a broader cost-cutting initiative aimed at enhancing performance and profitability by 2025. The company announced that it would cut the value of stock awards for its leadership team, including top executives, by 25% to 50%, with the most substantial reductions affecting the highest earners. This move is part of Ford's strategy to align executive compensation more closely with shareholder interests and to fund investments in electric vehicles and other high-growth areas. Additionally, Ford is implementing other cost-saving measures such as reducing travel expenses, marketing budgets, and agency fees, while also focusing on improving quality and reducing complexity in its operations. These changes come as Ford aims to navigate through a challenging automotive market, marked by increased competition and a shift towards electric vehicles.

Read the Full Reuters Article at:
[ https://www.reuters.com/business/autos-transportation/ford-slashes-manager-stock-bonuses-cut-costs-boost-performance-2025-02-18/ ]
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