Ford plans to lay off 8,000 workers to help fund EV investment report | Rare Techy


California: U.S. automaker Ford Motor Co. is preparing to cut up to 8,000 jobs in the coming weeks to cut costs and increase its focus on electric vehicles, Bloomberg News reported Wednesday, citing people familiar with the matter. Most of the layoffs will fall among Ford’s salaried positions in the U.S., as well as the Ford Blue unit created in March to manage the company’s internal combustion engines, which employs about 31,000 salaried workers, the report said. .Also Read – This Country Will Soon Make “Working From Home” A Legal Right For Employees

The cuts, whose details have not been finalized and are subject to change, could be phased in and are likely to begin this summer. Also read – Meta and Alphabet were the highest paid workers in 2021: report

“To transform Ford+ and lead this exciting and disruptive new era of electric and connected vehicles, we continue to focus on transforming how we work and modernizing our organization across all automotive business units and across the company,” Ford spokesman TR Reid was quoted as saying by Reuters. in the statement. Also Read – Shashi Tharoor-led Parliamentary IT panel to probe BJP-Facebook links: Reports

“As part of this, we have set clear targets to lower our cost structure to ensure we are lean and competitive with the best in the industry,” he added.

The company is expected to announce more than 4,000 job cuts in the coming weeks, according to the Wall Street Journal. However, the report says that workers at the plant will not be affected by the layoffs.

Challenged by Tesla and other startups, traditional automakers have ramped up production of their electric models in recent years. At the time, it said it wanted to produce two million electric vehicles a year by 2026 — a third of its global output — and planned to spend $50 billion on them.

Company executives also said they want to cut spending on traditional vehicles to $3 billion a year.

(With inputs from agencies)


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