Ford Plans 4,000 Job Cuts in Europe as EVs Lose Momentum [Yahoo! Finance Canada]
Stellantis N.V. Common Shares (STLA)
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Source: Yahoo! Finance Canada
Most Read from Bloomberg The reductions — which amount to about 14% of Ford Europe's workforce — will primarily hit operations in Germany and the UK by the end of 2027, pending consultations with unions and governments. The automaker also announced it will reduce production of Explorer and Capri EVs at its complex in Cologne, Germany. Ford vowed in early 2021 to drastically overhaul its business in Europe, saying it would go almost completely electric by the end of the decade. That transformation hasn't been going to plan, with the company announcing early last year that it would slash 3,800 jobs. Peers including Volkswagen AG and Stellantis NV have issued profit warnings in recent months, citing the broad slowdown in vehicle sales and governments pulling support for EV purchases. “What we lack in Europe and Germany is an unmistakable, clear policy agenda to advance e-mobility,” John Lawler, Ford's vice chairman and chief financial officer, said in a statement. He called for mo
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