Ford to Cut 12,000 Jobs in Europe by End 2020

Ford said it will cut 12,000 jobs in Europe by the end of next year to try to return the business to profit.
Ford to Cut 12,000 Jobs in Europe by End 2020
A view of the Ford engine plant at Bridgend, Wales, Britain on June 6, 2019. Rebecca Naden/File Photo via Reuters
Reuters
Updated:

FRANKFURT—Ford said it will cut 12,000 jobs in Europe by the end of next year to try to return the business to profit, part of a wave of cost reductions in an auto industry facing stagnant demand and huge investments to build low emission cars.

The challenge of investing in electric, hybrid and autonomous vehicles while having to overhaul combustion engines to meet new clean-air rules, has forced Europe’s carmakers to slash fixed costs and streamline their model portfolios.