Ford cuts 3,000 jobs, most in the U.S.

Ford is firing 3,000 workers in the U.S., Canada, and India. Most positions are salaried white-collar jobs in the U.S. The move is part of Ford's restructuring plan for future growth.

Ford sent 31,000 employees a memo Monday about layoffs. Bill Ford and Jim Farley said 2,000 salaried and 1,000 agency workers will be laid off.

Ford isn't the only company making cuts this year. Rivian and Tesla cut jobs to streamline production and cut costs.

A Ford spokesperson said a potential recession was not a motivation for the blue oval brand. Mark Truby told the Detroit Free Press that the cuts weren't a response to economic fears. This is about positioning the company for success, delivering on our plan, and reducing costs.

He also said the cuts were based on a holistic look at the overall business plan, not a specific segment. Ford recently announced it would add 3,200 union jobs in Michigan, so total employment will rise. The brand is swapping salaried for hourly positions.

Ford's bosses thanked those leaving the company, saying "This is a difficult and emotional time." Friends and coworkers leaving Ford this week are thanked for their service.

This is part of Ford's plan to compete with GM and Tesla.

It plans to invest $50 billion in EVs by 2026 and produce 2 million per year. Still behind Tesla's goals for the same year.