About 3,000 white-collar workers at Ford will lose their jobs as the company cuts costs to help make the long transition from internal combustion vehicles to those powered by batteries.
Ford Motor Co. said it’s cutting 3,000 jobs this week in a move to boost profits as it seeks to fund the US$50 billion it plans to spend on electric vehicles.
Most are coming from Ford’s operations that build traditional internal combustion engine vehicles, which Chief Executive Officer Jim Farley has said he wants to make the “the profit and cash engine for the entire enterprise.” “Building this future requires changing and reshaping virtually all aspects of the way we have operated for more than a century,” Farley and Executive Chairman Bill Ford wrote in a memo to employees Monday. “This is a difficult and emotional time. The people leaving the company this week are friends and coworkers and we want to thank them for all they have contributed.”
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