Cut costs by 21.5 billion yuan! Ford plans a new round of layoffs. Ford | USA | Costs
According to a recent report by The Wall Street Journal, Ford Motor Company is planning a new round of layoffs in order to streamline its operational structure and reduce costs.
According to reports, the layoffs will mainly target American employees and are expected to affect Ford's engine business, electric vehicle, and software departments. The number of layoffs cannot be determined at the moment. It is expected that this layoff plan will be announced as early as next week. Currently, Ford has not commented on this incident.
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Ford Motor announced a restructuring plan in March last year to split its traditional gasoline and electric vehicle businesses. CEO Farley has also stated that the company plans to reduce annual costs by $3 billion by 2026 to achieve a pre tax profit margin of 10%. In August of the same year, Ford confirmed that it would lay off approximately 3000 employees in the United States, Canada, and India. In January of this year, the company announced that due to intensified competition in the electric vehicle industry, it will lay off approximately 3800 positions in Europe over the next three years, most of which will be in the UK and Germany.