Ford said it will have cut 12,000 jobs in Europe by the end of next year to try to return the business to profit.
Ford said it will have 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 record-level investments to build low emission cars.
Ford said it has ceased production at three plants in Russia, is closing plants in France and Wales, and has cut shifts at factories in Valencia, Spain and Saarlouis, Germany. Approximately 12,000 jobs will be affected at Ford's wholly owned facilities and consolidated joint ventures in Europe by the end of 2020, primarily through voluntary separation programs.
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