Ford plans to cut 4,000 jobs in Europe, including 2,900 in Germany [Yahoo! Finance]
Ford Motor Company (F)
Last ford motor company earnings: 4/28 04:09 pm
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Source: Yahoo! Finance
Most of the reductions will take place at a Ford factory in Cologne, where the company also has its European headquarters. Another 300 jobs are due to be cut at Ford locations elsewhere in the European Union. Ford has had a plant in the western German city for almost a century. The facility was transformed in recent years following a $2 billion investment to produce two electric car models. The company currently has around 11,500 jobs in Cologne, meaning that around one in four jobs could be cut, according to the local works council. As recently as 2018, Ford employed nearly 20,000 workers in Cologne. Like many of its rivals, Ford is struggling with weak sales in Germany and Europe. Consumer reluctance to switch to electric cars, a sluggish economy and the end of government incentives in Germany are proving challenging for carmakers. Ford has in recent years suffered major losses in the passenger car segment, where the costs of switching to electric cars are high. The com
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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
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