Nov. 20 (UPI) — Ford Motor Company said Wednesday it plans to cut 4,000 European jobs, citing what it called unprecedented competitive, regulatory, and economic headwinds.
Ford framed the cuts as a restructuring “to create a more cost-competitive structure and ensure the long-term sustainability and growth of its business in Europe.”
“It is critical to take difficult but decisive action to ensure Ford’s future competitiveness in Europe,” said Dave Johnston, Ford’s European vice president for Transformation and Partnerships, in a statement.
He added Ford has been in Europe for more than a hundred years and is “committed to building a thriving business in Europe for generations to come.”
Ford said its passenger vehicle business in Europe has had significant losses in recent years.
“The global auto industry continues to be in a period of disruption, especially in Europe, where the industry faces unprecedented competitive, regulatory, and economic headwinds,” Ford said in statement.
The company said the global auto industry “continues to be in a period of disruption, especially in Europe, where the industry faces unprecedented competitive, regulatory, and economic headwinds.”
Ford reiterated a call to action for industry, governments, unions and social partners in Europe to work together to create the conditions for a successful transition to e-mobility.
John Lawler, vice chairman and chief financial officer of Ford Motor Company, said in a letter to the German government, “What we lack in Europe and Germany is an unmistakable, clear policy agenda to advance e-mobility, such as public investments in charging infrastructure, meaningful incentives to help consumers make the shift to electrified vehicles, improving cost competitiveness for manufacturers, and greater flexibility in meeting CO2 compliance targets.”
Ford said it has made significant investments over the past four years in Europe, including $2 billion to transform its Cologne, Germany plant into an electric vehicle center.
