Ford Motor Co. has announced plans to reduce its workforce by 4,000 employees in Europe and the U.K. by the end of 2027. The decision comes as the company faces challenges from the economy, increased competition, and weaker-than-expected sales of electric cars.
Most of the job cuts are expected to occur in Germany and will be conducted in consultation with employee representatives. Additionally, Ford will be reducing working time for employees at its Cologne, Germany plant, where it manufactures the Capri and Explorer electric vehicles.
