Ford offers early U.S. workers voluntary early buyouts

Ford offers early U.S. workers voluntary early buyouts

Ford Motor Co. is offering some of its U.S. workers voluntary early buyouts as the company works to transform its operations to meet its electric vehicle production goals.

A spokesperson for Ford said FOX Business that the Dearborn, Mich. - based automaker hopes the buyout offers will result in the reduction of 1,000 positions and that Ford will help with the financials.

We are reshaping our workforce to match the mandatory skills and positions needed to continue to transform our business, the spokesperson said in an email confirming the critical separation program. Staffing adjustments, including hiring and separations are part of a multi-year process to align talent with our cycle and service.

Ford plans to make more electric vehicles than combustion engine vehicles in 2023 and is intending to have electric vehicle account for 40% to 50% of its U.S. sales by 2030.

It was one of several automakers who made the pledge before a meeting with President Biden on Wednesday. Biden signed a non-binding executive order promoting this goal, calling it an electric vision of the future.

Battery electric, plug-in, hybrid electric, fuel cell electric it's electric, and there is no turning back, Biden says.