Musk’s prophetic warning: Ford on a downward spiral to bankruptcy

Written by Jakob A. Overgaard

Oct.02 - 2023 10:43 AM CET

Photo: Shutterstock
Photo: Shutterstock

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Elon Musk has recently weighed in on the ongoing conflict between Ford and its employees, represented by unions, across various manufacturing plants in the United States. Not only Ford, but Stellantis and General Motors are also at risk of shutting down, according to Musk.

The Tesla CEO firmly believes that these automotive giants are on a steady path towards bankruptcy. This viewpoint aligns with the demands of factory workers who are calling for a 40% increase in wages and a 32-hour work week.

Musk expressed his thoughts on the social media platform “X”, which he owns. He agrees with Ford CEO Jim Farley, who has previously expressed concerns over the workers’ demands. Farley believes that Ford is unable to meet these new requirements set by the union without facing bankruptcy.

Ford, a company with a rich history and significant contributions to the automotive industry, finds itself at a crossroads. The demands from its workforce reflect broader societal expectations for fair wages and work-life balance. However, meeting these demands while navigating through the competitive and rapidly evolving automotive landscape is a daunting challenge.

If Ford indeed faces closure, there might be a silver lining as it could potentially lead to a resurgence in popularity, similar to what has been observed with a specific car brand in Holland.

The unfolding events within these automotive giants are being closely monitored, as they will have significant implications for the industry, the workforce, and the economy at large.

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