Ford is moving to lay off thousands of workers in order to fund its electric vehicles (EVs) program that supports the Biden administration’s climate goals, according to Bloomberg.
The automaker is planning to lay off 8,000 of its employees to raise profits and pay for its ramp-up of EV production, Bloomberg reported Wednesday. Ford will spend roughly $50 billion, according to Reuters, to make 2 million EVs annually by 2026 after selling 27,140 in 2021.
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