Morgan Stanley analyst Adam Jonas published a research note on Monday in which he explored the complexity of Fords restructuring roadmap under the companys new CEO Jim Hackett.
Ford has been steadily profitable since the recovery from the financial crisis began and avoided the bailouts and bankruptcies that befell General Motors and Chrysler in 2009, so one might ask why Ford needs to restructure. But Hackett is new on the job, and Fords stock has been lagging the market and its sector, so a restructuring is what investors seem to be calling for.
The goal is to generate $US12 billion in cost savings by 2022. Jonas scrutinizes a range of options, from layoffs to financial write-downs, but buried in the note is th…
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