Ford is laying off 3,000 employees

Ford is laying off about 3,000 employees and contract workers, with the cuts primarily affecting staff in the US, Canada, and India, The Wall Street Journal reports. Chairman Bill Ford and CEO Jim Farley sent a memo on Monday informing staff of the layoffs, with affected workers being told later this week.

“Building this future requires changing and reshaping virtually all aspects of the way we have operated for more than a century,” Ford and Farley said in the memo, according to CNBC. “It requires focus, clarity and speed. And, as we have discussed in recent months, it means redeploying resources and addressing our cost structure, which is uncompetitive versus traditional and new competitors.”

It’s unclear how the cuts may be spread...

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