Ford plans to cut thousands of jobs, close some plants and reduce shifts at others in Europe
An employee on a Ford Fiesta assembly line at the factory in Cologne, Germany. Photo: Krisztian Bocsi/Bloomberg News By Nathan Allen June 27, 2019 7:49 am ET Ford Motor Co. detailed plans to close factories and reduce its workforce across Europe, saying the moves would affect about 12,000 jobs through measures like layoffs and shift reductions.
The U.S. auto maker said it would cut its European manufacturing footprint to 18 plants from 24 by the end of 2020. It also plans to reduce shifts at its assembly plants in Saarlouis, Germany, and Valencia, Spain, as part of a broader operational shake-up, it said. The announcement by Ford provides more detail on the European restructuring that it announced in January.
Around 12,000 jobs will be affected by the measures across Ford’s fully owned operations and joint ventures, primarily through voluntary separation agreements, the company said. Around 2,000 of the cuts are in salaried positions, which are included among the 7,000 global job cuts that the company had already announced.
Ford said the restructuring will help it to reach its long-term goal of 6% margins on earnings before interest and taxes.
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