Ford Targets More Worker Cuts
Plans employee layoffs as it cuts contract positions, all to save costs.
The latest layoffs are expected to start in upcoming weeks.
IMAGE: Ford
Ford will lay off more employees to streamline costs, including salaried staff, according to news reports.
The news follows Ford white-collar layoffs announced in February to address a $2 billion net profit loss last year.
This time, Ford is largely targeting U.S. salaried employees, though the Detroit Free Press reports that it already cut contract workers on Friday as it moves toward the employee layoffs.
Specific layoff numbers haven’t been reported.
Legacy carmakers ae working to streamline operations as they ramp up electric-vehicle production in a transition away from internal combustion engines by next decade.
Ford told investors in March that it expects to lose $3 billion on its EV business this year but predicted the business will move into profit by the end of 2026.
The latest layoffs, expected to start in upcoming weeks, also follow a round Ford conducted in August of several thousand contract and staff positions.
Originally posted on Auto Dealer Today
More Industry
Penske Auto Group Deal a Record
The deal to take the dealership and transportation services company private sets a new pace for industry buy-sell transactions.
Read More →
War Toll a Damper on Used Auto Prices
Cox Automotive found wholesale depreciation to be elevated in September amid high fuel prices and this year's unusual hurricane season.
Read More →
Bridge the Maintenance Gap
With many drivers missing recommended maintenance, service departments offering transparency and efficiency have a better chance of reaching financially strained consumers.
Read More →
California Store Has New Owner
The longtime dealership in the northern part of the state is known for robust fleet sales and has served the state capital for 115 years.
Read More →
BMW Plant Pursues Cleaner Energy
BMW Group Plant Leipzig has utilized hydrogen to help power its production since 2013, but a new pipeline is planned to take it to another level.
Read More →
Auto Affordability Inches Up
The latest Cox Automotive and Moody’s Analytics index shows a slight increase in new-vehicle affordability despite high prices.
Read More →
Ohio Auto Group Under New Ownership
After 79 years with the Schluter family, Mansfield Auto Group has been acquired by Missouri-based Clement Auto Group.
Read More →
RV Group Expands Carolina Footprint
Blue Compass RV Columbia Northeast is the 13th RV dealership owned by Blue Compass in the Carolinas.
Read More →
Agent Acumen
An Agent Summit panel of people who’ve been supporting auto dealers for years gave both timely and timeless advice for those starting out or mulling the prospect.
Read More →
Missed Maintenance Creates Opportunity
As families get back on the road and into daily school routines, service drives have an opportunity to capture customers who are behind on recommended vehicle maintenance.
Read More →