Ford confirms latest round of layoffs amid EV push
The gas-powered section on the company, however, has buoyed earnings to some extent. The company reported a $1.8 billion profit in the first-quarter.
Ford indicated on Tuesday that it was planning another round of layoffs, with sources suggesting at least 1,000 employees could be let go across North America.
Some salaried employees have already been informed of the job cuts, which will largely focus on the engineering department, a spokesperson for the company informed the Wall Street Journal on Tuesday. Sources informed the outlet that more than 1,000 layoffs could occur.
The cuts come as the company struggles to make the transition toward electric vehicles. Ford announced in March that it expected to lose $3 billion from the EV business year in 2023, but insisted the section would generate an 8% return by 2026.
The gas-powered section of the company, however, has buoyed earnings to some extent. The company reported a $1.8 billion profit in the first-quarter.
The company previously cut 3,000 jobs last August and announced in January that nearly 4,000 European positions were on the chopping block, The Hill reported.
Ben Whedon is an editor and reporter for Just the News. Follow him on Twitter.