Layoffs In 2023: Ford Motors Preparing For Big Layoffs, Many Employees Will Lose Their Jobs

Spread the love

Ford Motors layoffs: Auto sector company Ford Motors is gearing up for a new round of layoffs. This time the company may lay off salaried employees in America. Thousands of employees may lose their jobs, according to a report by Wall Street General. In March last year, the company announced plans to cut infrastructure costs by up to $3 billion in its gas-powered vehicle unit.

In August, Ford said it would cut a total of 3,000 permanent and contract jobs, according to a Reuters report. Most of the employees in North America and India will be laid off. This layoff will be done from several departments. Ford did not immediately respond to questions from Reuters.

Employees will be removed from these departments

The WSJ report said the new round of layoffs could be for employees in the Detroit automaker’s gas, electric-vehicle and software divisions. However, there is no clear information about how many employees will be laid off.

Why was the decision to dismiss taken?

Ford has planned layoffs to streamline the business. The automaker’s move comes after talks with peers Stellentis NV ( STLAM.MI ) and General Motors ( GM.N ). This is not the first company to lay off. Employees have been sacked from many companies before.

How many people lost their jobs this year?

Many companies globally have laid off employees. Millions of workers have lost their jobs. According to a report, 739 tech companies globally have outsourced 210,269 employees. In which many companies including Amazon, Microsoft, Facebook, Twitter are involved.

India’s largest edtech company Byju’s is gearing up for layoffs. This time around 500 to 1,000 employees of the company are likely to be affected. Due to slow growth and difficult macroeconomic conditions, the company is trying to reduce its costs. Due to which all the teams are expected to be relegated.

Edtech startup Byju’s is embroiled in a dispute with its lenders over a $1.2 billion term loan. Many contract employees have been affected recently. In addition to the on-ground sales team, third party staff such as Randstad Channelplay are included.