Ford Cracking a Few Eggs in Motown

It was inevitable but to actually see the numbers and scale of this is sad.  Remember when Biden touted EVs creating American jobs and how Ford and GM are doing a far superior job relative to that of Tesla?  From Blomberg:

“Tesla Inc. has been going through “supply chain hell,” but Elon Musk believes the electric-car maker stands a chance of emerging from it in the second half of the year. The company’s quarterly earnings beat estimates and still plans to increase vehicle deliveries by 50% on average annually over multiple years. Tesla sold roughly 75% of its Bitcoin holding due to uncertainty as to when Covid shutdowns would lift in China. Also in tech, Microsoft Corp. is eliminating many open jobs, including in its Azure cloud business and its security software unit. Ford Motor Co. plans up to 8,000 job cuts to help fund EV investment.


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