Ford Motor Co. is cutting about 3,000 white-collar jobs as it attempts to lower costs and make the transition from internal combustion to electric vehicles.
Signage at a Ford dealership in Colma, California, US, on Friday, July 22, 2022. Ford Motor Co. is expected to release earnings figures on July 27. Photographer: David Paul Morris/Bloomberg via Getty Images. is cutting about 3,000 white-collar jobs as it attempts to lower costs and make the transition from internal combustion to electric vehicles.
The cuts represent about 6% of the 31,000 full-time salaried work force in the U.S. and Canada. Ford's 56,000 union factory workers are not affected. Some workers also will lose jobs in India. Executive Chairman Bill Ford and CEO Jim Farley said in the email that Ford will provide benefits and significant help for the workers to find new jobs.Ford reveals new electric F-150 police pickup truck
Farley and Ford wrote that they examined each team's shifting work to decide where cuts would be made. The company determined that its cost structure wasn't competitive with General Motors, Stellantis and Tesla. It has said previously that it has a target of cutting $3 billion in annual internal combustion vehicle structural costs.
A spokesman said the cuts were made across all areas of the company, including cuts in the large work force of internal combustion engineers.Almost 600 workers will be reduced by Ford after a tough first quarter which saw a $3B loss.
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