Ford to Cut 3,000 Jobs to Build EVs


Ford Motor Co. will lay off about 3,000 white-collar staff as part of its cost-cutting efforts to hasten the protracted transition from internal combustion to battery-powered vehicles.

The Dearborn, Michigan-based automaker’s executives announced the layoffs of 2,000 full-time salaried employees and an additional 1,000 contract workers in a company-wide email.

The reductions affect 31,000 full-time salaried employees in the US and Canada or around 6% of them. There is no impact on the 56,000 union factory workers at Ford. In India, some workers would also lose their jobs.

In the memo to staff, Executive Chairman Bill Ford and CEO Jim Farley announced that Ford will offer severance benefits and substantial assistance to help people find new positions. Ford has the potential to take the lead in the emerging era of linked and electric vehicles, they claimed.

“Building on this future requires changing and reshaping virtually all aspects of the way we have operated for more than a century. It means redeploying resources and addressing our cost structure, which is uncompetitive versus traditional and new companies,” the email said.



Image and article originally from www.insightssuccess.com. Read the original article here.

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