‘The workers get a smaller and smaller piece of the pie
Posted BY: John Hugh DeMastri
Daily Caller News Foundation
Ford Motor Co. is set to lay off at least 1,000 employees in North America less than a week, after the auto-titan got a multibillion-dollar loan from the Biden administration to invest in its electric vehicle business, the Wall Street Journal, reported Tuesday.
Salaried employees began being internally notified of the cuts Monday, with a spokesman confirming the cuts to the WSJ Tuesday and saying that the company is focused on engineers in a bid to save money across all business units. On June 22, Ford and business partner SK On, a Korean battery maker, received a $9.2 billion loan from the Biden administration to construct a trio of electric vehicle factories in the U.S. South.
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A Ford spokesman confirmed that the layoffs were occurring, but not how many, in comments to the Daily Caller News Foundation. He said that “even the Wall Street Journal’s estimate would represent an extremely small percentage” of the company’s total labor force.
