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Ford to Cut 3,000 Jobs to Fund Shift Toward Electric Vehicles

  • Reductions to come in mainly in US, along with Canada, India
  • CEO Farley has said the automaker has too many employees
Bloomberg business news
Ford CFO on EV Plans, Supply Chain, Battery Materials
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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.

The cuts will come primarily in the US, while some positions also are being eliminated in Canada and India, a company spokesman said. The total includes 2,000 salaried workers and 1,000 contract personnel.