- Ford Motor Co (NYSE:F) plans to slash about 3,000 salaried and contract jobs to concentrate on the electric vehicle business, Reuters reported.
- Most of the proposed jobs cuts will be in North America and India.
- Also View: Tata Motors Acquires Ford India’s Sanand Plant For $91M
- CEO Jim Farley had previously hinted that the automaker required a different skill set for the industry shift to electric vehicles and digital services.
- Also Read: Ford To Contest $1.7B Verdict Over Pickup Truck Accident
- “We are eliminating work, as well as reorganizing and simplifying functions throughout the business,” the report cited a joint email by Ford Chairman Bill Ford and CEO Farley.
- Recently, Ford has been aiming to catch up with rivals like Tesla, Inc (NASDAQ:TSLA) by scaling up its electric vehicle offerings.
- Related: Elon Musk Claps Back At Ford CEO’s Tesla Pickup Truck Jab: Here’s The Fight
- Price Action: F shares are trading lower by 5.29% at $15.05 on the last check Monday.
- Photo Via Company
Galapagos 1H Revenue €328.8M Vs €274M YoY
First half-year 2023 financial highlights (unaudited)
(€ millions, except basic & diluted income/loss (-) per share)
Six months ended
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