Ford to cut 3,000 jobs as it moves towards electric future

Ford is to axe 3,000 employees across North America and India as it looks to accelerate its shift towards electric vehicles.

As reported by Reuters, Ford’s chief executive Jim Farley and executive chair Bill Ford told employees that a total of 3,000 salaried and contract jobs, mostly in North America and India, will be cut as the company looks to restructure its labour force.

In the email, Farley claimed that Ford’s cost structure is “is uncompetitive versus traditional and new competitors” and that it would be “reshaping virtually all aspects of the way we have operated for more than a century.”

Farley had previously stated that the company had too many employees and that not enough of its workforce had the skills required to cope with the shift over to electric vehicles.

The decision comes after Ford detailed its global EV targets last month, outlining its ambitions of an annual run rate of 600,000 electric vehicles by late 2023 and more than 2 million by the end of 2026.

Speaking at the time, Farley said: “Ford’s new electric vehicle lineup has generated huge enthusiasm and demand, and now we are putting the industrial system in place to scale quickly.”

In March this year, Ford also committed to spending $50bn by 2026 on building factories and hiring more software and electrical engineers.

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