San Francisco, June 23: US automaker Ford is preparing to cut more jobs as it directs more investments towards building electric vehicles (EVs).

The fresh layoffs could be announced as soon as next week, according to The Wall Street Journal. The company laid off about 3,000 employees in August last year. Kia Carnival MPV Discontinued in India, Expected To Launch in Its Fourth-Gen Avatar.

Ford CEO Jim Farley has said that the automaker has more work to do than its competitors to get costs in line.

"Ford Motor is preparing to initiate another round of layoffs in the coming weeks, according to people familiar with the matter, the latest in a broader effort by the automaker to streamline operations and reduce costs," the report mentioned.

Last month, Ford Motor reached an agreement with Elon Musk-run Tesla that will provide Ford electric vehicle customers access to more than 12,000 Tesla Superchargers across the US and Canada, doubling the number of fast chargers available to Ford EV customers starting in spring 2024.

In 2025, Ford will offer next-generation electric vehicles with the North American Charging Standard (NACS) connector built-in, eliminating the need for an adapter to access Tesla Superchargers.

In August 2022, Ford laid off about 3,000 employees and contract workers, with the cuts primarily affecting staff in the US, Canada, and India. Rolls-Royce Spectre, First Ever Electric Car of the Brand Unveiled; From Specs To Price, Here’s All Key Details.

"Building this future requires changing and reshaping virtually all aspects of the way we have operated for more than a century. It requires focus, clarity and speed. And, as we have discussed in recent months, it means redeploying resources and addressing our cost structure, which is uncompetitive versus traditional and new competitors," the company had said in a memo.

Overall, the company had reduced its salaried workforce by about 2,000, as well as reduced agency personnel by about 1,000.s

(The above story first appeared on LatestLY on Jun 23, 2023 10:19 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website