Aug 22, 2022 - Economy & Business

Ford to cut around 3,000 jobs in U.S. and Canada

The Ford logo at a dealership in Colma, California, in July 2022.
Photo: David Paul Morris/Bloomberg via Getty Images

Ford confirmed Monday it plans to eliminate roughly 3,000 white-collar and contract positions, primarily in the U.S., Canada and India.

Why it matters: It's the company's latest effort to cut costs as it refocuses on core products and growth opportunities, while making a long-term transition to electric vehicles.

The big picture: Ford first announced the cuts in an email to employees that was reviewed by the Wall Street Journal.

  • In the email, the company said it would begin notifying affected workers this week.
  • About 2,000 of the cuts will be salaried jobs at Ford, while the remaining 1,000 will be contract positions with outside agencies, primarily in North America.

What they're saying: “Building this future requires changing and reshaping virtually all aspects of the way we have operated for more than a century,” Ford CEO Jim Farley executive chairman Bill Ford said in the email.

  • "None of this changes the fact that this is a difficult and emotional time. The people leaving the company this week are friends and coworkers and we want to thank them for all they have contributed to Ford," he added.
  • "We have a duty to care for and support those affected — and we will live up to this duty — providing not only benefits but significant help to find new career opportunities."

Go deeper: EV prices charge ahead: Ford F-150 Lightning price spike highlights increases

Editor's note: This story has been updated with new details throughout.

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