Ford confirms to layoff 3,000 staff in US, India: Report


San Francisco, Aug 23 (IANS): The US-based car maker Ford Motor has reportedly confirmed that it is laying off roughly 3,000 employees and contract workers, with the cuts primarily affecting staff in the US, Canada and India.

According to The Wall Street Journal, Ford sent an internal email to employees, saying it would begin notifying affected salaried and agency workers this week of the cuts.

About 2,000 of the targeted cuts will be salaried jobs at Dearborn, Michigan. The remaining 1,000 employees are working in contract positions with outside agencies, the company said.

The email, signed by Executive Chairman Bill Ford and Chief Executive Jim Farley, said Ford is changing the way it operates and redeploying resources as it embraces new technologies that were not previously core to its operations, such as developing advanced software for its vehicles.

The job cuts are effective September 1, a spokesman said.

Farley has said recently that Ford has too many employees, and that the existing workforce doesn't have the expertise needed to transition to a portfolio of electric, software-laden vehicles.

He has said he aims to cut $3 billion in annual costs by 2026 to reach a 10 per cent pretax profit margin by then, up from 7.3 per cent last year.

Several media outlets reported in July that layoffs were coming for white-collar staff as part of a broader restructuring to sharpen the car company's focus on electric vehicles and the batteries that power them.

 

  

Top Stories


Leave a Comment

Title: Ford confirms to layoff 3,000 staff in US, India: Report



You have 2000 characters left.

Disclaimer:

Please write your correct name and email address. Kindly do not post any personal, abusive, defamatory, infringing, obscene, indecent, discriminatory or unlawful or similar comments. Daijiworld.com will not be responsible for any defamatory message posted under this article.

Please note that sending false messages to insult, defame, intimidate, mislead or deceive people or to intentionally cause public disorder is punishable under law. It is obligatory on Daijiworld to provide the IP address and other details of senders of such comments, to the authority concerned upon request.

Hence, sending offensive comments using daijiworld will be purely at your own risk, and in no way will Daijiworld.com be held responsible.