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Why Ford is cutting 3,000 jobs worldwide

Why Ford is cutting 3,000 jobs worldwide

DETROIT — Ford Motor Co. plans to cut 3,000 jobs worldwide this week, according to a letter sent to workers Monday and obtained by Automotive News.

The car manufacturer is cutting 2,000 salaried jobs and 1,000 employment agencies. CEO Jim Farley and Executive Chair Bill Ford said. Affected employees in the US, Canada and India will be informed this week, the letter said. A Ford spokesperson confirmed the letter as authentic.

“Building this future requires changing and reshaping virtually every aspect of the way we’ve worked for more than a century,” Farley and Ford wrote. “It takes focus, clarity and speed. And, as we’ve discussed over the past few months, it means we have to reallocate resources and tackle our cost structure, which is uncompetitive against traditional and new competitors.”