Ford Motor Company has announced 3,000 staff cuts as the car manufacturer expands its business into electric vehicles.
“Building this future requires changing and reshaping virtually all aspects of the way we have operated for more than a century,” said Ford CEO Jim Farley and Executive Chairman Bill Ford in a letter penned to staff.
“It means redeploying resources and addressing our cost structure, which is uncompetitive versus traditional and new companies.”
The lay-offs come as the car manufacturer aims to generate 50 per cent of its global sales from electric vehicles by 2030.
Extracted in full form: Ford to sack 3,000 staff as it prepares transition into electric vehicles | Sky News Australia