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Published Nov 20, 2024 • 1 minute read
FRANKFURT, Germany (AP) — Ford Motor Co. says it will reduce its workforce by 4,000 in Europe and the U.K. by the end of 2027, citing headwinds from the economy and pressure from increased competition and weaker than expected sales of electric cars.
Ford said Wednesday most of the job cuts would come in Germany and would be carried out in consultation with employee representatives.
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The company said that it would also reduce working time for workers at its Cologne, Germany plant where it makes the Capri and Explorer electric vehicles.
Dave Johnston, Ford’s European vice president for transformation and partnerships, said in a statement that “it is critical to take difficult but decisive action to ensure Ford’s future competitiveness in Europe.”
The company said that “the global auto industry continues to be in a period of significant disruption as it shifts to electrified mobility.”
“The transformation is particularly intense in Europe where automakers face significant competitive and economic headwinds while also tackling a misalignment between CO2 regulations and consumer demand for electrified vehicles,” the statement said.
European automakers must sell enough electric vehicles to meet new, lower limits for fleet average carbon dioxide emissions in 2025. EV sales have lagged as consumers weary of inflation have held back on spending and after major car market Germany dropped government purchase incentives for EVs.
European Automobile Manufacturers’ Association has called for a speedier review of lower C02 limits slated for 2026.
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