Ford cutting 3,000 white-collar jobs in bid to lower costs
The job losses come at a time of unprecedented change in the auto industry that for more than 100 years has made a living by selling petroleum-powered vehicles. Governments across the globe are pushing to eliminate combustion automobiles to mitigate the impact of climate change. Companies like Ford are orchestrating the wind-down of their combustion businesses over multiple years, even though they are still generating the cash to fund electric vehicle development.
Farley and Ford wrote that the company 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. Ford has said previously that it has a target of cutting $3 billion in annual internal combustion vehicle structural costs by 2026.Article content
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Ford cutting 3,000 white-collar jobs in bid to lower costsThe cuts represent about six per cent of the 31,000 full\u002Dtime salaried work force in the U.S. and Canada. Find out more.
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