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   From: fjb@nytimes.com   
      
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   DETROIT – Ford Motor is cutting about 3,000 jobs from its global   
   workforce, as the automaker attempts to lower costs as part of   
   restructuring efforts under CEO Jim Farley.   
      
   Ford began notifying workers of the reductions on Monday, a   
   company spokesman confirmed. The cuts are for 2,000 salaried   
   positions and 1,000 agency jobs in the U.S., Canada and India,   
   Farley and Ford Chair Bill Ford said in a message to employees   
   that was obtained by CNBC.   
      
   “Building this future requires changing and reshaping virtually   
   all aspects of the way we have operated for more than a century.   
   It requires focus, clarity and speed. And, as we have discussed   
   in recent months, it means redeploying resources and addressing   
   our cost structure, which is uncompetitive versus traditional   
   and new competitors,” the message reads.   
      
   Ford’s cost-cutting actions are the latest in a series of   
   efforts by companies to reduce expenses and employee head count   
   amid fears of a potential recession or economic softening, with   
   inflation hovering near a 40-year high.   
      
   The cuts, which were first reported Monday by Automotive News,   
   come less than a month after Farley told analysts that “we   
   absolutely have too many people in certain places, no doubt   
   about it.”   
      
   The reductions are occurring across Ford’s businesses, which it   
   split into two units earlier this year to separate its electric   
   and internal combustion engine businesses.   
      
   “There are opportunities to be more efficient and more effective   
   in all the business units and all the functions that support   
   them,” Ford spokesman T.R. Reid told CNBC.   
      
   Ford employs about 31,000 salaried workers in North America. As   
   of the end of last year, Ford had 186,769 employees globally,   
   with 90,873, or 48.7%, of those workers located in the U.S.   
      
   Under Farley, who became CEO in October 2020, Ford is going   
   through a massive transformation of the company called Ford+   
   that includes plans to cut $3 billion in structural costs by   
   2026, while investing billions to expand its electric and   
   commercial vehicle businesses.   
      
   “We worked differently than in the past, examining each team’s   
   shifting work statement connected to our Ford+ plan. We are   
   eliminating work, as well as reorganizing and simplifying   
   functions throughout the business,” read the message to   
   employees.   
      
   Ford’s stock was down about 5% in afternoon trading Monday to   
   $15.10 a share. The shares are down about 27% in 2022.   
      
   https://www.cnbc.com/2022/08/22/ford-to-cut-3000-jobs-primarily-   
   in-north-america.html   
      
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