{"id":1563421,"date":"2022-07-20T18:20:06","date_gmt":"2022-07-20T22:20:06","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1563421"},"modified":"2022-07-20T18:20:15","modified_gmt":"2022-07-20T22:20:15","slug":"ford-plans-to-cut-up-to-8000-jobs-bloomberg-news","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/ford-plans-to-cut-up-to-8000-jobs-bloomberg-news\/","title":{"rendered":"Ford plans to cut up to 8,000 jobs \u2013 Bloomberg News"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fford-plans-to-cut-up-to-8000-jobs-bloomberg-news%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1563421&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>(Reuters) \u2013     Ford Motor Co is preparing to cut up to 8,000 jobs in the coming weeks in a bid to reduce costs and intensify its focus on electric vehicles, Bloomberg News reported on Wednesday, citing people familiar with the matter.<\/p>\n<p>The cuts are expected in Ford\u2019s salaried workforce, as well as the Ford Blue unit created in March to run the company\u2019s internal combustion engine operations, Bloomberg reported. The cuts, whose details have not been finalized and could change, may be made in phases and are likely to begin this summer. (https:\/\/bloom.bg\/3aTY7TW)<\/p>\n<p>A Ford spokesman said the company does not comment on speculation, but it has scheduled a Thursday conference call to update investors on its plans to achieve annual EV production targets of 600,000 vehicles by 2023 and more than 2 million by the end of 2026.<\/p>\n<p>\u201cTo deliver our Ford+ transformation and lead this exciting and disruptive new era of electric and connected vehicles, we remain focused on reshaping our work and modernizing our organization across all automotive business units and across the company,\u201d Ford spokesman T.R. Reid said in a statement. <\/p>\n<p>\u201cAs part of this, we have laid out clear targets to lower our cost structure to ensure we are lean and fully competitive with the best in the industry,\u201d he added.<\/p>\n<p>In March, Ford boosted spending on EVs through 2026 to $50 billion from its prior target of $30 billion, and reorganized its operations into separate units focused on EVs and gasoline-powered vehicles with Ford Model e and Ford Blue, respectively. <\/p>\n<p>The Dearborn, Michigan-based company also said at the time  that its EV business would not be profitable until the next-generation models begin production in 2025. <\/p>\n<p>Ford Chief Executive Jim Farley said in February at a Wolfe Research conference the U.S. automaker\u2019s opportunity to cut costs in its internal combustion engine operation was on the structural side. \u201cWe have too many people,\u201d he said.<\/p>\n<p>\u201cThis management team firmly believes that our ICE and BEV portfolios are under-earning,\u201d he added, referring to battery electric vehicles, or BEVs.<\/p>\n<p> (Reporting by Yuvraj Malik in Bengaluru; Editing by Devika Syamnath and Richard Chang)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/?attachment_id=2728597\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/07\/tagreuters.com2022binary_LYNXMPEI6J105-VIEWIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI6J105-VIEWIMAGE\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Reuters) \u2013 Ford Motor Co is preparing to cut up to 8,000 jobs in the coming weeks in a bid to reduce costs and intensify its focus on electric vehicles,<\/p>\n","protected":false},"author":66,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1563421","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1563421","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1563421"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1563421\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1563421"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1563421"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1563421"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}