Most are coming from Ford’s operations that build traditional internal combustion engine vehicles, which CEO Jim Farley has said he wants to make “the profit...
Ford Motor Co. is cutting about 3,000 white-collar workers as it moves to reduce costs and make the transition from internal combustion to electric vehicles.Ford Motor Co. said it’s cutting 3,000 jobs this week in a move to boost profits as it seeks to fund the $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 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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