Berkshire Hathaway Cash Falls as Abel Boosts Stock Buybacks 
Alibaba Plans Revenue-Sharing Model for Qwen3.8-Max AI Commercial Users 
Brazil Cuts Selic Rate to 14% as Inflation Eases but Risks Persist 
US Stock Futures Hold Steady as Iran Hormuz Deal and Earnings Shape Market Sentiment 
US Dollar Gains as Iran Tensions, Fed Rate Hike Bets Rise 
Gold Price Hits Seven-Week High as Fed Rate Hike Bets Fade and Hormuz Deal Hopes Grow 
Australia Trade Surplus Returns in June as Iron Ore, Coal and LNG Exports Surge 
DeepSeek to Raise AI API Prices as Demand for New Models Surges 
Novo Nordisk Raises 2025 Outlook Despite Wegovy Pill Miss and CagriSema Setback 
Siemens Energy Q3 Profit Beats Forecast as AI-Driven Power Demand Fuels Growth 
China Exports Beat July Forecasts as AI Demand Fuels High-Tech Trade 
AMP Shares Surge 13% After Strong Profit and A$150 Million Buyback 
Cloudflare Stock Jumps 15% as Earnings Beat Estimates, 2026 Outlook Raised 
BOJ Rate Hike Expectations Rise Ahead of September Meeting 
Wall Street Ends Mixed as Dow Hits Record Despite Tech Weakness 
Trump Unveils $3 Billion U.S. Critical Minerals Push 
Heineken H1 Operating Profit Meets Forecast as Beer Volumes Beat Expectations 
Ford Motor is slashing jobs of its salaried and contract employees and about 580 staff are affected. The automaker is undergoing restructuring to focus on electric vehicles and unfortunately, the move will also lead to job cuts.
According to CNBC, the company’s Ford+ turnaround restructuring plan is being carried out and it was confirmed on Wednesday this week that 230 agency workers and 350 salaried employees will have to be let go.
Most of the affected workers are said to be under the engineering department. This happened as Ford Motor is transitioning from making combustion engines to electric cars and trucks.
“We continue to align staffing around the critical skills needed to deliver our products, services, and the Ford+ plan,” the carmaker stated. “As part of the ongoing management of our business, we will continue to align our staffing to meet our future business needs and plans.”
The job cuts are expected to be completed by the end of the week and this comes just weeks after Ford Motor revealed its plans to reorganize its operations to divide its electric and internal combustion engine and create different units for them within the company.
Ford Motor further said that employees who will be impacted by the job cut as well as the agencies for the non-Ford staff, were already notified on Wednesday which is the same day when it announced a net loss of $3.1 billion in the first quarter. The profit loss is said to be largely due to its heavy investment in Rivian Automotive, an EV start-up.
Meanwhile, Ford Motor said that eligible employees will be given benefits continuation as well as severance pay that is equivalent to up to nine months of salary based on service. The automaker’s spokesperson declined to disclose an estimate of how much the packages will cost the company.
"Employees are provided a comprehensive career transition and reemployment assistance package through Right Management,” Detroit Free Press quoted Ford Motor as saying in a statement. This package provides personalized one-on-one career and/or retirement coaching along with resume and profile development, eLearning course library access, resume/profile development, and access to exclusive career fairs and networking events."
