Ford is reportedly planning to cut 8,000 jobs to help fund its EV plans
. As part of that, he announced plans to cut $3 billion in costs by 2026, with the aim of transforming Ford Blue into"the profit and cash engine" for the entire company.
"As 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," Ford's CCO Mark Truby toldin a statement, without revealing more details about the cuts. Ford currently employees around 31,000 salaried US workers.
In March, the automaker announced plans to boost electric vehicle spending to $50 billion and plan to build two million EVs by 2026. The company sold just 27,140 EVs stateside last year, but got a significant 76.6 percent boost last month asAll products recommended by Engadget are selected by our editorial team, independent of our parent company. Some of our stories include affiliate links. If you buy something through one of these links, we may earn an affiliate commission.
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