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Ford plans to cut up to 8,000 jobs to fund EV investments

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Yahoo Finance Live anchor Rachelle Akuffo details Ford's planned layoffs, which will focus on the company's internal combustion unit.

Video Transcript

RACHELLE AKUFFO: All right, we have some news for you right now. Ford planning to cut as many as 8,000 jobs, according to Bloomberg. The job cuts will come in Ford's internal combustion unit and will help fund the company's EV investment. We'll be continuing to keep an eye on that story. As you can see there, though, share price not affected just yet. Still in the positive territory, about 1%.