FRANKFURT, Germany (AP) — Ford Motor Company has announced that it will lay off 4,000 employees in Europe and the United Kingdom by the end of 2027. The company cites economic challenges, pressure from heightened competition, and lower-than-expected sales of electric vehicles.
According to Ford, employee representatives would be consulted before the majority of the job losses were implemented in Germany.
Additionally, the firm announced that it would cut down on the amount of time employees spend at its plant in Cologne, Germany, which produces the Capri and Explorer electric vehicles.
Ford’s European vice president for transformation and alliances, Dave Johnston, stated in a statement that tough but necessary steps must be taken to guarantee Ford’s competitiveness in Europe going forward.
According to the corporation, the global car industry is still going through a lot of upheaval as it transitions to electric vehicles.
According to the statement, the shift is most severe in Europe, where automakers must contend with severe economic and competitive challenges as well as a mismatch between consumer demand for electric vehicles and CO2 rules.
In 2025, European automakers will need to sell enough electric cars to reach new, reduced fleet average carbon dioxide emissions targets. Due to consumers’ reluctance to spend money and the removal of government subsidies for EV purchases in Germany, a major auto market, EV sales have fallen.
The Associated Press, 2024. All rights reserved. All rights reserved. It is prohibited to publish, broadcast, rewrite, or redistribute this content without authorization.
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