Ford plans to cut 1,000 US jobs in voluntary buyout plan

Auto maker is restructuring operations amid electric vehicle transition

In this Friday, Oct. 27, 2017, photo, vehicles line the entrance to the Ford Kentucky Truck Plant in Louisville, Ky. Ford Motor Co. reports earnings, Wednesday, Jan. 24, 2018. (AP Photo/Timothy D. Easley)

Ford Motor is seeking to eliminate about 1,000 salaried positions in the US through a voluntary buyout programme as it tries to realign operations amid its electric vehicle transition.

The move is designed to help Ford “match our business priorities with the critical skills needed to turn around our automotive operations” and build more electric vehicles under the Ford+ programme, a spokesperson said.

Staffing adjustments, including hiring and separations, are part of a multi-year process to ensure talent is appropriately distributed, the company said.

Eligible employees were notified of the plans last month, Ford said. Staff members with more than 20 years will receive the largest incentives, including six months of severance and benefits, as well as re-employment assistance, according to CNBC, which first reported the buyout.

Last September, Ford said it was planning to cut 1,400 US jobs through buyouts and layoffs as part of its sweeping reorganisation that seeks to improve its financial health.

The company posted a surprise profit in the second quarter, thanks to surging prices on models that have become harder to find on dealer lots.

Updated: August 6th 2021, 4:44 AM
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