Ford is eliminating hundreds of white-collar positions in order to cut costs as it transitions to electric vehicles

Ford Motor Company is undergoing yet another round of white-collar job layoffs as it strives to minimize expenses while it makes the switch to electric vehicles.

On Tuesday, the business acknowledged that it had begun informing several hundred engineers and other salaried staff members that their positions will be removed. The firings follow the last week’s layoffs of 200 or so Ford contract workers.

According to CEO Jim Farley, a large portion of Ford’s employees lacks the necessary expertise as the company switches from internal combustion to battery-powered automobiles.

He claimed that this week’s actions demonstrate how consistently Ford is adjusting to change. He added that the organization is also hiring in various fields, such software development.

Ford is also attempting, according to its officials, to offset a $7 billion cost disadvantage compared to its rivals, which is why it is making the job layoffs. The corporation is also spending more than $50 billion by 2026 to create and construct electric automobiles all around the world.

By the end of this year, Ford hopes to be able to produce 600,000 electric vehicles annually, and by the end of 2026, it hopes to produce 2 million.