article thumbnail

The EV Transition Explained: Reshaping Labor Markets

Cars That Think

Ford, for example, recently cut 3,000 highly-paid salaried and contract workers as a down payment to help fund the transition to EVs. Ford CEO Jim Farley has said , employee cuts are necessary as Ford has “too many places in some places, no doubt about it. Ford is not alone. Mercedes-Benz says it will be investing €1.3

Market 97