Ford, Multinational Automaker, Announces Cut of 3,000 Jobs to Invest in Electric Cars

Written by Valdemar Medeiros

Published on 24/08/2022 at 12:54

Foto: Divulgação Cleide Silva, do Estadão Conteúdo

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Multinational Ford Plans to Cut Over 3,000 Jobs to Become a Competitive Company in the Electric Car Sector and Compete with Tesla.

The Ford announced the cut of approximately 3,000 positions, mainly in India and North America, as it restructures to challenge Tesla in the race to develop electric cars and software. Jim Farley, CEO of the multinational, has stated that the company does not have enough employees with the precise skills needed to handle the industry that is shifting to electric cars and digital services.

Multinational Ford Plans to Generate More Revenue Through Digital Services

According to Farley and Ford’s president, Bill Ford, in an email, the company is eliminating jobs, reorganizing, and streamlining functions throughout the company. The executives state that business area leaders will provide details this week. Just like Tesla, led by billionaire Elon Musk, the multinational Ford plans to generate more revenue through services that depend on digital software and connectivity.

In the email to the team, Ford and Farley state that the multinational’s cost structure is not competitive compared to its old and new rivals. Rising prices of batteries, transportation, and raw materials are putting more pressure on Ford and other automakers. Nevertheless, the multinational maintained its profit forecast for this year, despite $3 billion in higher costs due to inflation.

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Multinational Ford Announces Company Dedicated to Electric Car Production

Earlier this year, Ford announced that it is separating its combustion vehicle and electric car business into two different companies. The change comes amid an increasingly rapid shift towards a future of electric models.

According to the official statement, the automaker continues to transform its global automotive business, driving the advancement and scaling of innovative electric and connected cars, while also reviving important names that had named its vehicles in the past.

In May of last year, Jim Farley presented the Ford+ plan, stating that this would be the greatest opportunity for expansion and value generation for the company since Henry Ford scaled up the production of the Model T. Now, the formation of two different companies, Ford Blue and Ford Model, will help put the full potential of this plan into practice, driving expansion in an increasingly competitive market.

New Electric Cars from the Multinational

The company detailed that the first step that will lead the brand to sell only electric cars in Europe by the next decade will be taken with the arrival of 3 new battery cars and 4 entirely new electric cars in the Old Continent.

The company plans to sell about 600,000 electric cars in Europe by 2026, the year when, globally, according to the announced plan, zero-emission vehicle sales worldwide will reach 2 million units.

Ford announced that the first vehicle to hit the market will be a medium SUV with 5 seats that will be built in Cologne, a factory that will serve as a true hub in Europe. In 2024, a sporty-profile electric crossover will also be built in Cologne, and in the same year, Ford plans to market the Electric Puma.

Ford, Multinational Automaker, Announces Cut of 3,000 Jobs to Invest in Electric Cars

Multinational Ford Plans to Cut Over 3,000 Jobs to Become a Competitive Company in the Electric Car Sector and Compete with Tesla.

Multinational Ford Plans to Generate More Revenue Through Digital Services

Multinational Ford Announces Company Dedicated to Electric Car Production

New Electric Cars from the Multinational

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Ford, Multinational Automaker, Announces Cut of 3,000 Jobs to Invest in Electric Cars

Multinational Ford Plans to Cut Over 3,000 Jobs to Become a Competitive Company in the Electric Car Sector and Compete with Tesla.

Multinational Ford Plans to Generate More Revenue Through Digital Services

Multinational Ford Announces Company Dedicated to Electric Car Production

New Electric Cars from the Multinational

A giant printer called the “Ferrari” of concrete has landed in Latin America and can already build a 120-square-meter house in just 48 hours, making the traditional construction site look like something from the last century.

A British company has installed in the middle of the ocean the world’s first floating platform that generates electricity 24 hours a day from the temperature difference between the surface and the depths of the Atlantic, without relying on wind or sun.

Great Atlantic Sargassum Belt has ceased to be a climatic phenomenon and has become a biological system that feeds on itself, with 8,000 kilometers in length, 37 million tons of algae, and scientists confirm that it is now permanent.

China is building an artificial island in the middle of the sea, covering 20 km², to construct the largest offshore airport in the world, the Dalian Jinzhouwan. This $4.3 billion project is anchored on more than 3,000 pillars embedded in the rock beneath the ocean and is scheduled to open in 2035.

A robot named Walter does the work of five bricklayers per hour and can save the construction industry, where the average age of professionals is 46 years and almost no one wants to learn the trade anymore, in the United Kingdom.

Engineers had to pour concrete mixed with tons of ice throughout entire nights in the Dubai desert to erect the Burj Khalifa; any carelessness could clog the pipes half a mile high.

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The race of humanoid robots in factories has truly begun, Hyundai announced that it will deploy more than 25,000 units of Atlas in its production lines starting in 2028, in a partnership that involves Boston Dynamics and training with Google DeepMind.