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According to CCTV Finance, the US Ford Motor Company announced on August 22 that the company will lay off 3,000 employees. The layoffs are mainly to speed up the transformation to electrification. According to reports, the reduction of a total of 3,000 positions includes 2,000 full-time employees and 1,000 contract workers. The scope of layoffs mainly involves the United States, Canada and India. Meanwhile, on Aug. 22, Ford CEO Farley pointed out in an email to employees that Ford Motor Company’s cost structure is uncompetitive with both traditional and new competitors. force. High precision cheap price Professional OEM Custom aluminum door parts
Regarding the layoffs, Ford spokesman Reid said that the company will continue to change as the industry changes, or more jobs will be lost. It’s not uncommon for companies to keep adding staff where there is a need and laying off workers where demand is waning.
In addition, Ford CEO Jim Farley once said: There are too many people in the car factory, and now the competition in the auto industry is gradually shifting to electric vehicles and digital services, and Ford has not many employees with the corresponding skills. Existing employees are still mostly engaged in traditional gasoline vehicle production, and rising prices for raw materials have put additional pressure on Ford. It is estimated that Ford’s operating costs this year will increase by 3 billion US dollars (about 20.4 billion yuan). At present, Ford has begun to divide the business into three operating divisions, namely electric, internal combustion engine and commercial vehicles. Ford said it expects the layoffs to affect all parts of the company. High precision cheap price Professional OEM Custom aluminum door parts
In fact, there are early signs of large-scale layoffs at Ford. As early as July, there were media reports that Ford was preparing to cut 8,000 jobs in the next few weeks to save $3 billion in operating costs and better focus on electric vehicles. . According to relevant information, as of the end of 2021, Ford has 186,769 employees worldwide, of which about 90,000 employees are in the United States, accounting for nearly 49%. Affected by the news of the large-scale layoffs, Ford shares fell about 5% on August 22 to close at $15.08 per share.
With the rapid rise of new energy vehicles, Ford is also accelerating the process of electrification. As early as March of this year, Ford distributed a restructuring plan to split its traditional fuel vehicle and electric vehicle businesses, splitting Ford’s auto manufacturing business into two. Among them, the fuel vehicle business is called “Ford Blue”, and the electric vehicle business is called “Ford Model e”, led by different teams, and the financial reports will also be separated. Ford Blue focuses on making conventional gasoline engines for sports utility vehicles like the Bronco. Ford CEO Jim Farley has said he intends to turn Ford Blue into a profit and cash engine for the company to fund the expansion of its electric vehicle business.
In July, Ford officially released a Ford e-book, revealing that it is expected to invest 50 billion US dollars by 2026 for the global deployment of electric vehicle production bases, battery module research and development centers and other hardware facilities, with the goal of total electric vehicle production capacity next year. Increase to 600,000 vehicles, with an annual output of 2 million vehicles in 2026. At the same time, it pointed out that in addition to the current Mustang Mach-E, F-150Lightning, and E-Transit series, it is expected to launch seven electric vehicle models in the European market in 2024.
Thanks to the advancement of electrification, Ford Motor’s revenue and profit both increased in the second quarter of this year. The financial report shows that in the second quarter, Ford Motor’s revenue was US$40.19 billion, a year-on-year increase of 50.2%; net profit was US$667 million, an increase of 18.9% year-on-year. Earnings before interest and taxes (EBIT) of $3.7 billion, of which $3.3 billion was EBIT from the automotive business. It is understood that in the second quarter, Ford’s auto business revenue of 37.91 billion US dollars exceeded market expectations of 34.32 billion US dollars. High precision cheap price Professional OEM Custom aluminum door parts
According to the plan, Ford Motor plans to double the annual production capacity of pure electric vehicles to at least 600,000 vehicles by 2023. By 2030, the sales of pure electric vehicles will account for more than 40% of the company’s total sales. Looking ahead, Ford will further increase its investment in electrification. Ford will invest more than $50 billion in electric vehicles by 2026.
Under the trend that new energy vehicles will become the future, many auto giants have also carried out large-scale layoffs to speed up the electrification transformation. As early as the end of 2018, General Motors announced that due to rising manufacturing costs and slowing sales of traditionally powered vehicles, the company planned to close seven factories around the world and lay off more than 10,000 jobs. Tesla CEO Elon Musk also said in June this year that based on the company’s development, Tesla is moving forward with a plan to cut about 10% of its workforce.
In response to the layoffs of car companies, Gartner analyst Mike Ramsey estimated that other car companies are likely to be forced to lay off workers as the auto industry faces a future dominated by electric vehicles. It points out that in the production of electric vehicles, engineers are not required to manufacture the engine, transmission and exhaust system. Most of the existing employees of car companies do not have the skills and talents required for the transformation. At present, most car companies are facing enormous pressure to rearrange employees. In this regard, some professionals said that the decline in the number of jobs in the auto industry will be “a reasonable expectation” in the next decade. After all, electric vehicles have 30% fewer parts than gasoline vehicles, and will require less labor. High precision cheap price Professional OEM Custom aluminum door parts
