Ford Plans To Cut 3,000 Jobs: Reuters

Ford Motor Co F plans to slash about 3,000 salaried and contract jobs to concentrate on the electric vehicle business, Reuters reported.
Most of the proposed jobs cuts will be in North America and India.
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CEO Jim Farley had previously hinted that the automaker required a different skill set for the industry shift to electric vehicles and digital services.
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"We are eliminating work, as well as reorganizing and simplifying functions throughout the business," the report cited a joint email by Ford Chairman Bill Ford and CEO Farley.
Recently, Ford has been aiming to catch up with rivals like Tesla, Inc TSLA by scaling up its electric vehicle offerings.
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Price Action: F shares are trading lower by 5.29% at $15.05 on the last check Monday.
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