Asian Stocks Rally as Cooling US Inflation Boosts Fed Rate Outlook 
Gold Prices Slip From Two-Month High as Inflation and Fed Outlook Drive Markets 
Bill Ackman’s Pershing Square Returns to Netflix With Major New Stake 
Australia’s Corporate Leaders Face Parliament Over KPMG Client Data Scandal 
Ford to Move Some Lincoln Production From China to U.S. in 2030 
Tesla Roadster Reveal Could Feature SpaceX Thrusters in August 
Gold Prices Slip From 10-Week High as Fed and Hormuz Risks Shape Outlook 
Paramount Skydance Clears Regulatory Hurdles for Warner Bros. Discovery Deal 
Maersk Raises 2026 Earnings Outlook as Shipping Profits Beat Expectations 
Paramount Weighs CNN Sale as $110B Warner Bros. Discovery Deal Faces Antitrust Fight 
Micron Stock Upgraded to Buy as New Street Sees $2 Trillion Valuation Potential 
Oil Prices Fall as U.S. Crude Inventories Surge and Hormuz Tensions Persist 
Super Micro Stock Jumps 19% as AI Server Demand Drives Strong 2027 Outlook 
Thyssenkrupp Raises 2026 Profit Outlook as Steel and Materials Units Strengthen 
European Stocks Rise as U.S. Inflation Data Eases Fed Rate Hike Fears 
Barclays Warns U.S. Stock Rally May Be Detached From Fundamentals 
Trump Imposes New Tariffs on Drone Imports Over US Security Concerns 
Add as a preferred source on Google
Ford Motor Co. is slashing jobs in the U.S. and Canada as part of a broad cost-cutting strategy. The affected employees, primarily engineers, were informed this week with a reported estimate of about 1,000 job cuts.
Detroit Free Press reported that Ford Motor is terminating salaried workers in the said regions, and it will wrap up this round of job cuts before this day ends. Other publications specifically mentioned that most of the affected employees are engineers in all departments of its business, including commercial operations, gasoline-powered or internal combustion-engine vehicle units, and electric vehicles and technology.
"Notifications are largely finished," the spokesperson of Ford Motor, T.R. Reid, told the Free Press. "People who were affected are being provided with severance benefits and assistance in finding new opportunities outside the company."
Moreover, Reid previously said that some contract workers were informed last week that their assignments related to Ford Motor had ended. He declined to confirm the total number of white-collar jobs and contract workers that the automaker cut, but a source who has knowledge of the matter said that an estimated number of 1,000 salaried employees are affected, and most of them are engineers from Model e, Ford Pro, and Ford Blue units.
The Dearborn, Michigan-based automaker and its rivals have been reducing their workforce, and all of them said this is to trim the costs of their operations. They explained that this is needed since they are investing billions to transition from gas-powered to electric vehicles.
Reuters further reported that this decision is part of Ford Motor's plan to discontinue its unprofitable locations. It also comes after the company announced last month that it expects its restructuring to incur charges between $1.5 billion and $2 billion this year.
"This is related to the Ford+ growth plan we introduced in 2021," the company said via an email to the publication. "Delivering our Ford+ plan for growth and value creation includes increasing quality, lowering costs, investing in our priorities, and adjusting staffing to match the capabilities we need."
Photo by: Dan Dennis/ Unsplash
