Ford Motor Co. announced today that it plans to proceed with cuts that will affect about 3,000 jobs, mainly in the US and Canada, as reported by foreign news agencies.
The automaker said it has already begun notifying workers by e-mail. The cuts will take effect on September 1.
Ford’s plan for the cuts is reportedly linked to the automaker’s shift to electric vehicles and the restructuring plan it announced last March.
“We are eliminating jobs and reorganizing and streamlining processes across our operations. You will hear more from our division heads later this week,” company chairman Bill Ford and CEO Jim Farley said in a joint email.
Ford shares are down 4.7% right now.
Source: Capital

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