Ford seeks to lay off at least 1,000 employees – mostly engineers – in order to alleviate some of the heavy costs of investing in electric vehicles.
The job cuts will be Ford’s latest cost-cutting move after several rounds of global layoffs this year, including cutting 3,000 people in the US last summer.
Other businesses also announced brutal job cuts this week, including KPMG that said it would cut 5% of its US workforce.
The decision comes after the Big Four firm had already cut about 2% of its US employee count in February because of economic hardship.