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Ford Motor (NYSE:F) is planning more layoffs in the coming weeks to further reduce costs and streamline operations amid a major push towards electric vehicles, the Wall Street Journal reported citing people familiar with the matter.
The layoffs will mostly affect U.S. salaried workers in Ford’s (F) gas-engine business, as well as its EV and software divisions.
“Part of the ongoing management of our business includes aligning our global staffing to meet future business plans, as well as staying cost competitive as our industry evolves,” a Ford (F) spokesperson told WSJ, adding that the automaker had nothing to announce.
The company aims to cut ~$3B in annual costs by tackling high warranty costs and reducing complexity in business processes, among other efforts. Previously, Ford (F) announced 1,000 job cuts at its European plant. It is also reportedly looking at cutting 1,300 jobs in China.
The automaker spends about $7B-$8B more than its peers due to supply chain management and warranty expenses.
