Ford to cut 1,000 jobs, lose $3 BILLION over electric car investments

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More than one thousand Ford Motor employees will be losing their jobs as the company axes positions to make up for a significant loss of revenue due to electric vehicle investment efforts.

Ford is expecting to lose $3 billion in electric vehicle operating profit this year, and the company’s current operating costs are $7 billion to $8 billion, higher than any other competitor, which has forced the company to layoff employees, along with other cost-saving measures, Wall Street Journal reports.

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