Ford Motor plans to shed 3,000 employees and contract workers, citing a need to reshape its labour force as it invests tens of billions of dollars to make electric vehicles.
The company plans to cut 2,000 salaried employees and terminate another 1,000 contract workers, according to an internal memo on Monday from chief executive Jim Farley and executive chair Bill Ford. The cuts, while spread across the US, Canada and India, will be concentrated around the carmaker’s headquarters in south-east Michigan.
The executives called Ford’s cost structure “uncompetitive” compared to other carmakers, both legacy producers of and upstarts in the fast-growing EV market.
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