Ford confirms it will lay off 3,000 people in US and India: report

About 2,000 of the targeted cuts will be paid jobs in Dearborn, Michigan. The remaining 1,000 employees work in contract positions at outside agencies, the company said.

The email, signed by Executive Chairman Bill Ford and Chief Executive Jim Farleysaid Ford is changing the way it works and rearranging resources as it embraces new technologies that were not previously at the core of its business, such as developing advanced software for its vehicles.

The job cuts will take effect on September 1, a spokesperson said.

Farley recently said Ford has too many employees and that the existing workforce does not have the expertise needed to move to a portfolio of electric, software-loaded vehicles.

He has said he wants to cut $3 billion in annual costs by 2026 to reach a 10 percent pre-tax profit margin by then, up from 7.3 percent last year.

Several media outlets reported in July that there would be layoffs for white-collar workers as part of a broader restructuring to sharpen the auto company’s focus on electric vehicles and the batteries that power them.

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