Ford Motor on Thursday pegged the cost of a new labor deal at $8.8 billion and joined rival General Motors in cutting its full-year profit forecast due to lost production from a lengthy strike at its U.S. plants.
The automaker now expects adjusted earnings before interest and taxes (EBIT) of $10 billion to $10.5 billion for 2023, down from its prior forecast of $11 billion to $12 billion offered in July.
And yet:
Yup, all the doomerism in their public relations campaigns about how these deals with workers will cripple them is just a bunch of nonsense
A decrease in earnings of ~16% is very high