Hyperdrive
Ford Plans Up to 8,000 Job Cuts to Help Fund EV Investment
- Reductions seen coming from unit producing gas-fueled models
- CEO has said Ford profit hampered by having ‘too many people’
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Ford Motor Co. is preparing to cut as many as 8,000 jobs in the coming weeks as the automaker tries to boost profits to fund its push into the electric-vehicle market, according to people familiar with the plan.
The eliminations will come in the newly created Ford Blue unit responsible for producing internal combustion engine vehicles, as well as other salaried operations throughout the company, said the people, who asked not to be identified revealing internal discussions. The plan has not yet been finalized and details could still change.