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Benzinga
Benzinga
Business
Nabaparna Bhattacharya

Ford Slashes 1,000 Jobs In Germany As EV Demand Falters

Ford Germany Cologne electric vehicle
Ford

Ford Motor Company (NYSE:F) shares were steady in early Tuesday trading after the automaker confirmed plans to cut up to 1,000 jobs at its electric vehicle plant in Cologne, Germany.

The cuts come as demand for battery-powered models falls short of prior expectations. The company explained that departures would largely be handled through voluntary buyouts and separation agreements.

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