Ford Motor Co F is planning to slash as many as 8,000 jobs to boost investment into electric vehicle manufacturing, Bloomberg reported.
The job loss is likely to happen in Ford’s recently formedFord Blue unit, which is in charge of internal combustion engine vehicle production and other operations.
The major portion of the job cut is likely to happen in the U.S., where the auto major has about 31,000 salaried workers.
The report noted that Ford CEO, Jim Farley, hinted in February that leaner staff is a key to boosting profits.
“We have too many people,” Farley said at a Wolfe Research auto conference in February. “This management team firmly believes that our ICE and BEV portfolios are under-earning.”
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