Automotive giant Ford Motor Co. (F) has confirmed that it plans to cut engineering jobs in Canada as part of its plan to reduce costs and restructure its global operations.
While its not clear exactly how many engineering jobs in Canada will be impacted, Ford has said the job cuts will occur across all three of the company’s business units.
The Detroit automaker currently operates Ford Blue, its traditional internal combustion engine operations; Model e, its electric vehicle unit; and Ford Pro, a fleet service segment.
Ford has been restructuring its worldwide operations, announcing 3,000 staff reductions in North America last August and 3,800 layoffs in Europe earlier this year.
Ford chief executive officer (CEO) Jim Farley has said the company is at a $7 billion U.S. cost disadvantage compared to many of its competitors, which it is addressing through job cuts.
Ford had 173,000 employees worldwide at the end of 2022. The company said it is focused this week on cutting engineering jobs at its operations in Canada and the U.S.
The Canadian head office of Ford is based in Oakville, Ontario. Currently, the company employs about 7,000 people in Canada, not including at its dealership network.
Ford’s stock has risen 17% in the last 12 months to $14.11 U.S. per share.
