Investing
Ford to cut jobs in US, Canada
© Reuters. FILE PHOTO: The Ford logo is pictured at the Ford Motor Co plant in Genk,Belgium December 17, 2014. REUTERS/Francois Lenoir/File Photo
(Reuters) -Ford Motor Co said on Tuesday it will begin layoffs this week, impacting mostly engineering jobs in the U.S. and Canada, as part of the Detroit automaker’s move to exit unprofitable locations and cut headcount.
The development comes after the company said in May it expects to take up restructuring charges between $1.5 billion and $2 billion in 2023.
The automaker did not specify the number of roles to be affected by the move. “People affected by the changes will be offered severance pay, benefits,” Ford said.
CNBC reported on Monday job cuts are expected to affect all three of Ford’s business units – Ford Blue, Model e and Ford Pro.
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