Ford has announced it will cut 12,000 jobs in Europe by the end of the year in an attempt to return the business to profit.
The cuts are part of a wave of cost reductions in an automotive industry that is facing stagnant demand and huge investment to build low emission cars.
The challenge of investing in electric, hybrid, and autonomous vehicles while having to overhaul combustion engines to meet new clean-air rules, has forced Europe’s carmakers to slash fixed costs and streamline their model portfolios.
Ford said it would close a plant each in Wales and France, three plants in Russia, and also cut shifts at factories in Valencia and Saarlouis.
Around 12,000 jobs will be affected at Ford’s wholly owned facilities and consolidated joint ventures in Europe by the end of 2020, primarily through voluntary separation programmes.
Via Reuters