{"id":1954903,"date":"2023-06-22T23:11:01","date_gmt":"2023-06-23T03:11:01","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/ford-motor-company-to-announce-new-layoffs-in-coming-weeks-report\/"},"modified":"2023-06-22T23:13:13","modified_gmt":"2023-06-23T03:13:13","slug":"ford-motor-company-to-announce-new-layoffs-in-coming-weeks-report","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/ford-motor-company-to-announce-new-layoffs-in-coming-weeks-report\/","title":{"rendered":"Ford to announce new layoffs soon: report."},"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\">14<\/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-motor-company-to-announce-new-layoffs-in-coming-weeks-report%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=1954903&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--><blockquote>\n<h2>Ford Motor Company Could Announce New Layoffs<\/h2>\n<\/blockquote>\n<p>Ford Motor Company could announce new layoffs as soon as next week \u2014 its third round of layoffs within the last year.<\/p>\n<p>Sources informed <a href=\"https:\/\/www.wsj.com\/articles\/ford-prepares-new-round-of-layoffs-for-u-s-salaried-workers-a533a7a4?mod=hp_lead_pos5\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400\">The Wall Street Journal<\/span><\/a><span style=\"font-weight: 400\"> that this round of layoffs will primarily affect U.S. salaried workers in the gas, electric vehicle, and software divisions of the company.<\/span><\/p>\n<p>The reported layoffs come after the company <a href=\"https:\/\/www.cnbc.com\/2022\/08\/22\/ford-to-cut-3000-jobs-primarily-in-north-america.html\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400\">cut 3,000 American jobs<\/span><\/a><span style=\"font-weight: 400\"> last August and announced earlier this year that it would <\/span><a href=\"https:\/\/www.wsj.com\/articles\/ford-to-cut-3-800-jobs-in-europe-in-ev-shift-e1f8f567?mod=article_inline\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400\">reduce its European workforce<\/span><\/a><span style=\"font-weight: 400\"> by 3,800.<\/span><\/p>\n<p>The company has struggled to curb its spending as it transitions to electric vehicles and reported a $2 billion net loss last year, all while having committed to spending $50 billion through 2026 in developing its EV unit.<\/p>\n<p>The company <a href=\"https:\/\/media.ford.com\/content\/fordmedia\/fna\/us\/en\/news\/2022\/03\/02\/ford-accelerating-transformation.html\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400\">previously reported<\/span><\/a><span style=\"font-weight: 400\"> that it hopes to ramp up annual EV production to two million by 2026 and expects EVs to represent half of its global volume by 2030.<\/span><\/p>\n<p>CEO Jim Farley has acknowledged the company will need to spend \u201cbillions\u201d to procure materials that would enable an increase in EV production, and the company has <a href=\"https:\/\/www.wsj.com\/articles\/ford-ceo-jim-farley-grapples-with-problems-from-the-auto-makers-past-b098271c?mod=article_inline\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400\">received criticism<\/span><\/a><span style=\"font-weight: 400\"> from previous CEOs about its operational inefficiencies.<\/span><\/p>\n<p>Farley acknowledged that the company has struggled operationally on a February earnings call.<\/p>\n<p>\u201cThe strength of our products and revenue has masked this dysfunctionality for a long time. It\u2019s not an excuse, but it\u2019s our reality,\u201d he said.<\/p>\n<p><b data-stringify-type=\"bold\"><\/b><\/p>\n<blockquote>\n<h3>Significant Financial Support from the U.S. Department of Energy<\/h3>\n<\/blockquote>\n<p>The report followed an earlier <a href=\"https:\/\/www.detroitnews.com\/story\/business\/autos\/ford\/2023\/06\/22\/doe-announces-9-2-billion-loan-plan-for-ford-sk-joint-venturefeds-announce-9-2-billion-loan-for-ford\/70345917007\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400\">announcement<\/span><\/a><span style=\"font-weight: 400\"> from the U.S. Department of Energy that it would loan $9.2 billion to Ford and South Korean battery maker SK \u2014 a loan that covers most of the $11.4 billion the companies had jointly pledged to spend on the venture.<\/span><\/p>\n<p>The loan is the most <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/cas-prison-guard-union-gives-1-75m-to-newsoms-anti-recall-committee-after-negotiating-bonuses-and-raises\/\" title=\"CA\u2019s Prison-Guard Union Gives .75M To Newsom\u2019s Anti-Recall Committee After Negotiating Bonuses And Raises\">significant financial support<\/a> the federal government has given an automobile company since the Great Financial Crisis and is the biggest loan the Department of Energy has ever made.<\/p>\n<p>Ford was out-earned by its rival General Motors in 2022, despite GM\u2019s lower revenue and smaller workforce, and Ford\u2019s <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/female-entrepreneurs-rip-dems-over-labor-bill\/\" title=\"Female Entrepreneurs Rip Dems Over Labor Bill\">annual costs<\/a> are still $7 to $8 billion above where they should be relative to rivals, according to the Journal, though Ford did <a href=\"https:\/\/www.cnbc.com\/2023\/06\/20\/ford-ceo-didnt-hesitate-on-the-tesla-deal-its-good-for-customers.html\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400\">report above-expected revenue<\/span><\/a><span style=\"font-weight: 400\"> in its most recent quarterly earnings report.<\/span><\/p>\n<p>The Journal also reported that the company would work to separate its <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/renault-ceo-tours-korea-unit-run-with-geely-amid-strategy-reset\/\" title=\"Renault CEO tours Korea unit run with Geely amid strategy reset\">gas-engine business<\/a> from its EV and software sectors. Its EV sector is predicted to lose $3 billion in operating profit this year.<\/p>\n<p>A Ford spokesperson said in a statement that the layoffs are in line with the company\u2019s future business plans.<\/p>\n<p>\u201cAs we have said, part of the ongoing management of our business includes aligning our global staffing to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/ford-motor-company-to-announce-new-layoffs-in-coming-weeks-report\/\" title=\"Ford to announce new layoffs soon: report.\">meet future business plans<\/a>, as well as staying cost competitive as our industry evolves,\u201d he said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ford Motor Company may announce additional layoffs next week, marking its third round of job cuts in the past year. According to sources, this round will mainly impact salaried employees in the gas, electric vehicle, and software divisions within the United States. These reported layoffs follow recent developments within the company.<\/p>\n","protected":false},"author":2122,"featured_media":1954904,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[541],"tags":[],"class_list":["post-1954903","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-daily-wire"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1954903","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\/2122"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1954903"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1954903\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1954904"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1954903"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1954903"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1954903"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}