"Ford F-150 Lightning Plant Cuts Workforce Amid Weak Demand" - Ford Authority
Portfolio Pulse from Benzinga Newsdesk
Ford is reducing its workforce at the Rogue Electric Vehicle Center by two-thirds due to decreased demand for the F-150 Lightning, shifting focus to smaller, cheaper EVs. The company plans to reallocate 1,400 workers, with no anticipated job losses, and add a third shift at the Michigan Assembly Plant to accommodate the production of other models. This move contrasts sharply with the previous year's hiring spree to meet the high demand for the F-150 Lightning.
March 28, 2024 | 4:25 pm
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Ford is scaling back its workforce at the Rogue Electric Vehicle Center by two-thirds due to decreased demand for the F-150 Lightning, indicating a strategic shift towards smaller, cheaper EVs.
The reduction in workforce and shift in production focus due to decreased demand for the F-150 Lightning could signal short-term challenges for Ford, potentially affecting investor confidence and stock price. The strategic pivot to smaller EVs may take time to reflect positively on the company's financial performance.
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