Shares of Ford Motor Co.
F,
rose 0.2% in morning trading, after the Wall Street Journal reported that the automobile maker plans to cut at least 1,000 jobs in North America. Citing people decscribed as familiar with the matter, the layoffs, which will include salaried employees and contract workers, are part of Ford’s effort to help pay for its investment in electric cars. Last week, the Journal had reported that Ford was getting ready for another round of layoffs in the coming weeks, but at the time the number of layoffs could not be learned. Ford’s stock has run up 22.8% over the past three months while the S&P 500
SPX,
has gained 9.2%.
