Ford to cut 4,000 jobs in Europe [Yahoo! Finance]
Ford Motor Company (F)
Last ford motor company earnings: 4/28 04:09 pm
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Source: Yahoo! Finance
The move is part of the company's efforts to ensure its future competitiveness in Europe, where the car industry is facing a crisis due to high manufacturing costs and increased competition. This is the second round of job cuts for Ford in Europe, following the announcement of 3,800 job cuts in February 2023. US car giant Ford on Wednesday announced 4,000 more job cuts in Europe, mostly in Germany and Britain, in the latest blow to the continent's beleaguered car industry. "The company has incurred significant losses in recent years," Ford said in a statement, blaming "the industry shift to electrified vehicles and new competition". The move will affect 2,900 jobs in Germany, 800 in the UK and 300 in western Europe by the end of 2027, a Ford spokesman told AFP. "It is critical to take difficult but decisive action to ensure Ford's future competitiveness in Europe," said Dave Johnston, Ford's European vice-president in the statement. The company also said it was adjusting the
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