Ford plans to cut as many as 8000 jobs in the coming weeks

The job cuts at Ford will be in the production of gasoline-powered cars and comes amid its push into EVs. They account for about 4% of Ford's global workforce.

To me this highlights the cliff that auto sales are going off. There are still major backlogs for some models and inventory rebuilding that needs to be done but orders are falling dramatically. I would have thought automakers would wait longer to cut jobs and we'll see exactly where these are but it's an ominous sign for industrial jobs as a whole.

Meanwhile, the F150 Lightning continues to look like a winner. Deliveries started in May but the wait list is three years long and they're not taking any more reservations.

/US dollar US Dollar The US dollar, (symbol $, code USD) is the fiat currency of the United States of America (USD) and the most widely traded currency globally. It was introduced into the US in the late 18th Century, with paper notes not being distributed until the following century. The US dollar, also informally known as the greenback, is the world’s most foremost reserve currency, due in large part to the importance of the US economy on the world stage. Once backed by gold (in the 1900’s), the USD is now a purel The US dollar, (symbol $, code USD) is the fiat currency of the United States of America (USD) and the most widely traded currency globally. It was introduced into the US in the late 18th Century, with paper notes not being distributed until the following century. The US dollar, also informally known as the greenback, is the world’s most foremost reserve currency, due in large part to the importance of the US economy on the world stage. Once backed by gold (in the 1900’s), the USD is now a purel Read this Term