Ford to Lay Off 3,000 Employees in Effort to Cut Costs

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About 3,000 positions will be eliminated from Ford Motor’s global workforce, the most of which will be in North America.
In an email to staff members that CNBC was able to receive, Ford Chair Bill Ford and CEO Jim Farley said that the company will be eliminating 2,000 salaried roles as well as 1,000 agency employment in the United States, Canada, and India.

Image Source- Shortsaveall

DEARBORN – Ford Motor is trying to save expenses as part of its restructuring efforts under CEO Jim Farley by eliminating around 3,000 employees from its global workforce.

A spokeswoman for Ford confirmed that the business started informing employees of the reductions on Monday. In a communication to staff members that CNBC was able to get, Bill Ford, chairman of Farley and Ford, announced employment layoffs for 1,000 agency roles and 2,000 salaried positions across the United States, Canada, and India.

The way we have worked for more than a century has to be altered and reshaped in order to build this future. It calls for clarity, attention, and quickness. Additionally, as we have talked about recently, it entails reallocating resources and tackling our uncompetitive cost structure as compared to both old and new rivals.

The cost-cutting measures taken by Ford are the most recent in a string of initiatives by businesses to slash costs and staff headcount in the face of concerns about a probable recession or economic downturn and inflation that is hanging close to a 40-year high.

The layoffs come less than a month after Farley told analysts that “we clearly have too many personnel in certain locations, no doubt about it.” Automotive News first the news of the cuts on Monday.

The cuts are being made across all of Ford’s companies, which it divided into two groups earlier this year to segregate its internal combustion engine and electric vehicle divisions.

According to Ford spokesman T.R. Reid to CNBC, “there are chances to be more efficient and more successful in all the business divisions and all the activities that support them.”

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