Ford’s Job Cuts
Listen Now: Ford’s Job Cuts
Ford is going electric, and that means job cuts. I’m Brian Banmiller on Business.
Executives at Ford have announced that about $3,000 white-collar workers will lose their jobs as the company transitions to cars powered by batteries. In a company wide email, the company said full time salaried workers would be let go along with another $1,000 contract workers. This represents about 6% of the full time salaried Ford work force in the US and Canada. So far, union factory workers are not affected. Some job cuts will also impact workers in India. The move comes as Ford, along with most other car companies are making the move from gas-powered cars to electric. As governments around the world push the companies to lower their impact on the earth and climate change, the wind-down of combustion engines has begun. And it comes, even as companies are still working to raise money to fund electric cars. For its part, Ford has said it plans for half of its global production to be electric in the next eight years. And the recent announcement is just the first step. Brian Banmiller, CBS News.
CBS News Radio national business journalist Brian Banmiller has spent more than 40 years in the news industry, covering business, politics and the economy on television, radio and in print. Currently, his “Banmiller on Business” reports are delivered to an audience of millions nationwide.
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