Ford to cut 4,000 European jobs amid economic and EV challenges [Yahoo! Finance]
Ford Motor Company (F)
Last ford motor company earnings: 4/28 04:09 pm
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Source: Yahoo! Finance
The restructuring will primarily affect jobs in Germany and the United Kingdom, with a smaller impact across other European Union countries. The automaker announced on Wednesday that 2,900 jobs will be cut in Germany, 800 in the UK, and 300 elsewhere in Europe. The reductions will be conducted in consultation with employee representatives. Ford currently employs 28,000 people across Europe and 174,000 worldwide. Ford attributed the job cuts to significant disruptions in the global automotive industry as it transitions towards electrification. In a statement, the company said: “The transformation is particularly intense in Europe where automakers face significant competitive and economic headwinds while also tackling a misalignment between CO2 regulations and consumer demand for electrified vehicles.” European automakers are under pressure to meet strict carbon dioxide (CO2) emission limits. New fleet-wide emission standards will take effect in 2025, with a longer-term EU goal
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F
Earnings
- 10/28/24 - Miss
F
Sec Filings
- 11/19/24 - Form 4
- 11/19/24 - Form 4
- 11/19/24 - Form 4
- F's page on the SEC website