Ford Laying Off 3,000 Staff To Cut Costs As It Transitions To EVs via insideevs.com
Ford has confirmed reports about layoffs at the company, announcing that it will cut 3,000 white-collar and contract employees this week alone in an effort to cut costs as it transitions to electric vehicles.
On Monday, the automaker sent an internal email to employees, saying it would begin notifying affected salaried and agency workers of the cuts this week.viewed the email and was able to confirm its authenticity. Cutting 3,000 employees represents a 1 percent reduction of's global workforce of about 183,000 people. The job cuts are effective September 1, a company spokesman said.
Most of the job cuts will be in the United States, Canada and India. Ford said about 2,000 of the targeted cuts are salaried jobs, with the remaining 1,000 employees working in contract positions with outside agencies.
Farley also said he aims to cut $3 billion in annual costs by 2026 as part of a goal to reach a 10 percent pretax profit margin by then, up from 7.3% last year. Ford has pledged toTo move closer to achieving this goal, —Model e, focusing on EVs and advanced technologies, and Ford Blue, centered on the carmaker's portfolio of ICE vehicles. There's also a third unit for commercial vehicles called Ford Pro.
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