Ford To Cut F-150 Lightning Production As Demand Decreases

(RTTNews) - Ford Motor Company (F), Friday announced its decision to cut down the production of F-150 Lightning electric pick-up trucks mainly due to decreased demand.

The company said that it would cut down the production at the Rouge Electric Vehicle Center to one shift from April 1.

The company's latest decision will affect around 1,400 employees, out of which nearly 700 employees will be transferred to Michigan Assembly Plant while the remaining will be assigned jobs at the Rouge Complex or other facilities in Southeast Michigan or will be provided with an option of the Special Retirement Incentive Program.

The company CEO Jim Farley commented that this move is to balance the customer's choices with the company's growth and profitability.

The company also announced that it will be adding around 900 new jobs at the Michigan Assembly Plant to meet the increasing demand for Bronco, Bronco Raptor, Ranger and Ranger Raptor.

Currently, Ford's stock is trading at $10.98, down 0.05 percent on the New York Stock Exchange.