Ford Announces New Round Of Layoffs
Ford has announced a fresh round of layoffs across multiple divisions. As per a report published by Wall Street Journal, the decision is going to impact Ford employees in the USA.
The automobile Industry globally is hit by the current inflationary pressure leading to a rise in the price of raw and the subsequent increase in manufacturing costs. This led automakers like Ford to adopt cost-cutting measures.
For the unversed, Ford had not only cut down around 3000 jobs in August 2022 but also closed its business operations in India. The gaining popularity and transition towards the EV segment have not helped the cause of the automobile market either.
