Ford will begin another round of layoffs this week impacting jobs in the U.S. and Canada, the automaker confirmed to FOX Business on Tuesday.
While the company did not disclose how many employees would lose their jobs, Ford spokesperson T.R. Reid said the actions are related to the manufacturer’s growth plan introduced in 2021, which Ford has been increasingly implementing over the past year.
"Delivering on the plan includes adjusting staffing to match focused priorities and ambitions, while raising quality and lowering costs," he added. "What we’re doing this week in the U.S. and Canada is mostly, but not only, related to engineering roles. People affected by the changes will be offered severance pay, benefits and significant help to find new career opportunities."
US OPENS PROBE INTO FORD EXPLORER RECALL REPAIRS
In May, the Detroit manufacturer said it anticipated restructuring charges between $1.5 billion and $2 billion over 2023.
FORD VENTURE NABS $9.2 BILLION FROM DEPARTMENT OF ENERGY
Earlier this year, the automaker announced it was beginning a 3,800-person reduction in its European workforce.
Amid reports of further job cuts, Ford has been hit with a string of product recalls involving millions of vehicles including trucks and SUVs with missing information in the owners’ manuals, to vehicles susceptible to engine fires, faulty seatbelts and airbags.
UAW PRESIDENT RALLIES MEMBERS FOR POTENTIAL STRIKES AT FORD, GM AND STELLANTIS
Despite the setbacks, the automaker reported higher truck sales in May and the exportation of the company’s signature electric F-150 Lightning pickup truck to Norway.
Meanwhile, shares of Ford are up across the board, rising roughly 22% since Jan. 1.
