Ford cut thousands of staff and close factories in Europe

Ford сократит тысячи сотрудников и закроет заводы в Европе

Ford сократит тысячи сотрудников и закроет заводы в Европе

American automaker Ford Motor Co. plans to cut thousands of jobs in its European division in the reorganized business in the region.

Thus, the automaker plans to achieve maximum reduction of labor costs through voluntary care staff in Europe, reports “Interfax”.

Stephen Armstrong, head of the Ford business in the region covering Europe, middle East and Africa, did not specify how many employees might leave the company, but noted that we are talking about thousands of workers. Only in Europe, Ford employs about 54 thousand people, mainly in Germany, UK and Spain.

In addition, Ford plans to exit the segment of minivans, to stop the production of automatic transmissions in Bordeaux and combine the headquarters of the British division and financial business Ford Credit.

According to Armstrong, the company’s management is considering all options, including closing plants. Task – to reach the level of operating margin at 6% in Europe. In the third quarter of 2018 Ford has received in the region a loss of $245 million

Earlier, Ford Motor has recalled almost 900 thousand vehicles in North America due to a malfunction in the engines. In particular, this F-150 pickups, which were released in the period from 2015 to 2018, and Super Duty, released from 2017 to 2018.

By 2022 the company plans to increase planned investments in the electric mobility industry to $11 billion, the Automaker plans to release 40 hybrid and fully electric cars.

Ford also demonstrated exoskeletons EksoVests from the company Ekso Bionics, which will employ the workers of the factories.