Ford Reportedly Planning New Layoffs — US Salaried Employees Expected To Be Hit By Job Cuts
Portfolio Pulse from Anan Ashraf
Ford Motor Co (NYSE:F) is reportedly planning a new round of layoffs for its U.S. workforce, including salaried workers from gas-engine, electric vehicle, and software divisions. The company reported a net loss of $2 billion for the full-year 2022 but expects full-year adjusted EBIT of $9 billion to $11 billion and adjusted free cash flow of around $6 billion for 2023.
June 23, 2023 | 6:14 am
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Ford is planning new layoffs for its U.S. workforce, including salaried workers from various divisions. The company reported a net loss of $2 billion for 2022 but expects better financial performance in 2023.
The news of layoffs may negatively impact Ford's stock price in the short term as it signals potential financial struggles and workforce instability. However, the company's expectations for better financial performance in 2023 may mitigate some of the negative impact.
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