Ford is said to reduce tens of thousands of jobs in order to lower costs while transitioning to electric vehicles

Ford is said to reduce tens of thousands of jobs in order to lower costs while transitioning to elec ...

Ford, a US carmaker, is planning to reduce a tens of thousands of employees in order to reduce costs and accelerate its transition to electric vehicles, according to press reports on Wednesday.

According to the Wall Street Journal, the group is expected to eliminate more than 4,000 employees in the next weeks.

According to the report, factory workers are unlikely to be affected.

According to Bloomberg, as many as 8,000 people may be affected.

A Ford refused to comment on speculation when contacted by AFP.

The group has scheduled a conference call to discuss its intention to transition to electric vehicles on Thursday.

Ford executives will provide further information on how the company is scaling out its industrial system to a global production run rate of 600,000 electric vehicles by 2026, according to the company.

In his message, he said that in order to deliver our Ford+ transformation and lead an exciting and disruptive new era of electric and connected vehicles, we would be reorganizing our work and modernizing our organization across all of the automotive business units and the entire company.

We have established clear budgetary targets that were both flexible and fully competitive with the best in the industry.

Traditional carmakers have accelerated the development of their electric vehicles in recent years, despite Tesla and other startups.

Ford announced the creation of a new dedicated entity, Ford Model e. in March.

At the time, the company stated that it intends to produce two million electric vehicles a year by 2026, a third of its worldwide output, and that it would spend $50 billion (roughly Rs. 4 lakh crore) on them.

Executives of the companies expressed plans to reduce traditional vehicles to $3 billion (roughly Rs. 24,000) per year.

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