Years ago I bought Ford stock; I think from now on I'll just buy into index funds and leave the individual stock roulette to others:
Ford Motor plans to lay off at least 1,000 salaried employees and contract workers in North America, people familiar with the matter said, the automaker’s latest effort to defray the heavy cost of investing in electric cars.
In internal meetings Monday, Ford began notifying some salaried workers in North America that job cuts would be coming, a company spokesman confirmed Tuesday morning. The planned layoffs are concentrated in the engineering ranks, where Ford is targeting costs across its business units, he said.
The automaker has made several rounds of global layoffs over the past year, including a 3,000-person reduction in the U.S. last summer and a slightly larger layoff in Europe initiated earlier this year.
Ford has about 28,000 salaried employees in North America. The U.S. automaker’s plan for another round of layoffs was first reported last week by The Wall Street Journal.
I've read that Ford lost $34,000 on every electric vehicle it sold last year. Ugh.
2 comments:
I wonder what effect this will have on the construction for future electric vehicles that is going on in Avon, OH. At the moment the redoing of the plant is in the middle with more buildings, in process. With piles of dirt, it is currently a mell of a hess looking when I drive by.
Only 34K? Could be worse.
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