Ford CEO Jim Farley attended Barron’s Roundtable to discuss the electric vs. gas car debate, the automaker’s growth and its approach to the auto industry, and responded to Warren Buffett’s comments on investing in the industry.
There will be more layoffs at Ford Motor in the coming weeks.
According to the Wall Street Journal, most of the layoffs will be for US employees.
The automaker’s upcoming move is part of its ongoing effort to streamline operations and cut costs.
The layoffs will be announced as early as next week, people familiar with the situation tell The Journal.
NO RESERVATIONS: FORD INCREASES PRODUCTION OF THE ELEKTROF-150 LIGHTNING
Ford Motor is reportedly preparing for another round of layoffs, aimed primarily at US employees. (AP Photo/Gene J. Puskar, File/Associated Press)
The number of workers involved could not be determined immediately.
The cuts are reportedly set to impact Ford’s gas engine division, as well as its electric vehicle and software divisions, The Journal reported.
Ford is cutting 3,800 jobs in Europe as part of EV Push
Ford Motor laid off around 3,000 salaried and contract workers in August 2022 and announced a reduction of 3,800 in its European workforce in February 2023. (iStock / iStock)
In August, Ford laid off about 3,000 employees and contract workers.
Earlier this year, the automaker announced it was beginning to cut its workforce in Europe by 3,800 people.
| ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| f | FORD MOTOR CO. | 14.19 | +0.17 | +1.25% |
FOX Business has reached out to Ford for comment but has not received a response at the time of publication.