Ford retracts in Europe with layoffs and lower EV production [Verge, The]
Ford Motor Company (F)
Last ford motor company earnings: 4/28 04:09 pm
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Source: Verge, The
Share this story Ford said it would cut 4,000 jobs from its business in Europe, while also lowering production estimates for its upcoming Explorer and Capri electric vehicles. The planned cuts , which amount to 14 percent of the automaker's European operations, will primarily affect its workers in Germany and the UK, with “minimal reductions” coming from other European markets. The news comes as EVs continue to lose momentum in markets around the world, as governments eliminate subsidies and economic headwinds force many automakers to rethink their strategies. It also comes at a tough time for Ford, which has been dealing with disruptions both at home and abroad. The company recently paused production of its F-150 Lightning truck until after the new year in response to lower-than-expected demand. The Explorer and Capri EVs are assembled at Ford's factory in Cologne, Germany, which is at the center of the automaker's push to go all-electric on the continent by 2030. But that
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News
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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