Tuesday, October 4, 2022
News Ford is Cutting 3,000 jobs to Free Funds for its Transformation

Ford is Cutting 3,000 jobs to Free Funds for its Transformation

Ford will cut 3,000 jobs in the US, Canada, and India later this week.

  • Ford is working on a number of upcoming electric models

  • The job cuts will be made in the United States, Canada, and India

  • 2,000 of the affected jobs are salaried, the rest are agency jobs

Ford has announced 3,000 job cuts around the world that will reportedly help it remain more competitive against new electric automakers.

Like every other company in the automotive industry, Ford is working on new electric models to replace its current gasoline and diesel-powered trucks and SUVs.

This transition constitutes a major change in the way things are done at Ford, and the company’s CEO warned a number of times that this transition could not be made profitable by keeping all of the current employees.

In order to reduce its operating costs enough to remain profitable against the newer competition such as Tesla or Rivian, which have much smaller pools of employees, Ford has announced 3,000 job cuts.

The majority of the employees that will be let go are salaried workers and the remaining 1,000 employees work agency jobs. It seems that factory jobs will be preserved since Ford confirmed these cuts will affect Ford Credit as well as employees in purchasing.

The automaker said these job cuts will be distributed between the United States, Canada, and India. Furthermore, the company’s two entities, Ford Blue and Ford Model e, will both see employees depart.

In addition to removing jobs, the company is also restructuring and reorganizing a number of its operations in order to make them more efficient by removing redundancies and simplifying a number of processes.

This might not be the last time Ford cuts jobs this year since rumours that have been circulating for a while claim that the automaker is planning a total of 8,000 job cuts this summer alone.

 

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