Ford to cut jobs in US, Canada
Ford announced a reduction in its European workforce earlier this year
Biden's White House is weaponizing electric vehicles: Mike Caudill
Automotive expert Mike Caudill discusses the Biden administration's attempt to remake the auto industry on 'The Big Money Show.'
Ford will begin another round of layoffs this week impacting jobs in the U.S. and Canada, the automaker confirmed to FOX Business on Tuesday.
While the company did not disclose how many employees would lose their jobs, Ford spokesperson T.R. Reid said the actions are related to the manufacturer’s growth plan introduced in 2021, which Ford has been increasingly implementing over the past year.
One year after Ford confirmed construction of the Rouge Electric Vehicle Center in Dearborn, Mich., the first Ford F-150 Lightning pre-production units begin leaving the factory. (Ford / Fox News)
"Delivering on the plan includes adjusting staffing to match focused priorities and ambitions, while raising quality and lowering costs," he added. "What we’re doing this week in the U.S. and Canada is mostly, but not only, related to engineering roles. People affected by the changes will be offered severance pay, benefits and significant help to find new career opportunities."
US OPENS PROBE INTO FORD EXPLORER RECALL REPAIRS
In May, the Detroit manufacturer said it anticipated restructuring charges between $1.5 billion and $2 billion over 2023.
FORD VENTURE NABS $9.2 BILLION FROM DEPARTMENT OF ENERGY
Earlier this year, the automaker announced it was beginning a 3,800-person reduction in its European workforce.
Ford CEO Jim Farley pats a Ford F-150 Lightning truck before announcing at a press conference on Feb. 13, 2023, that Ford Motor Company will be partnering with Amperex Technology to create an electric-vehicle battery plant in Marshall, Michigan. (Bill Pugliano/Getty Images)
Amid reports of further job cuts, Ford has been hit with a string of product recalls involving millions of vehicles ranging from trucks and SUVs with missing information in the owners’ manuals to vehicles susceptible to engine fires, faulty seatbelts and airbags.
UAW PRESIDENT RALLIES MEMBERS FOR POTENTIAL STRIKES AT FORD, GM AND STELLANTIS
Despite the setbacks, the automaker reported higher truck sales in May and the exportation of the company’s signature electric F-150 Lightning pickup truck to Norway.
Ford CEO Jim Farley weighs in on the electric vs. gas vehicle debate
Ford CEO Jim Farley joined 'Barron's Roundtable' to discuss the debate on electric vs. gas cars, the auto company's growth and approach to the auto industry, and reacts to Warren Buffett's comments on investing in the industry.
Meanwhile, shares of Ford are up across the board, rising roughly 22% since Jan. 1.
CLICK HERE TO GET THE FOX BUSINESS APP
Ford
.