Ford to cut 4,000 jobs in Europe and Britain, cites disruptive shift to EVs, economic headwinds [Globe and Mail, The (Toronto, Canada)]
Ford Motor Company (F)
Last ford motor company earnings: 4/28 04:09 pm
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Source: Globe and Mail, The
decrease says it will reduce its workforce by 4,000 in Europe and the U.K. by the end of 2027, citing headwinds from the economy and pressure from increased competition and weaker than expected sales of electric cars. Ford said Wednesday most of the job cuts would come in Germany and would be carried out in consultation with employee representatives. The company said that it would also reduce working time for workers at its Cologne, Germany plant where it makes the Capri and Explorer electric vehicles. Dave Johnston, Ford's European vice president for transformation and partnerships, said in a statement that “it is critical to take difficult but decisive action to ensure Ford's future competitiveness in Europe.” The company said that “the global auto industry continues to be in a period of significant disruption as it shifts to electrified mobility.” “The transformation is particularly intense in Europe where automakers face significant competitive and economic headwinds wh
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News
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- Ford to reassign 400 assembly workers to nearby plants as Bronco sales drop [USA TODAY]USA TODAY
- Ford job cuts signal a bumpy road ahead for EV motor finance [Yahoo! Finance]Yahoo! Finance
F
Earnings
- 10/28/24 - Miss
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Sec Filings
- 11/19/24 - Form 4
- 11/19/24 - Form 4
- 11/19/24 - Form 4
- F's page on the SEC website