US carmaker Ford has announced plans to cut a further 4,000 jobs in Europe, mostly in the UK and Germany. The decision is the latest blow to the continent's struggling auto industry, AFP reported.
"The company has suffered significant losses in recent years," the company said, announcing "the industry's shift to electrified vehicles and new competition."
The move will affect 2,900 jobs in Germany, 800 in the United Kingdom and 300 in Western Europe by the end of 2027, a company spokesman said.
"It is critical that we take tough but decisive action to ensure Ford's future competitiveness in Europe," said Dave Johnston, Ford's vice president for Europe.
The car giant said it is adjusting production of its Explorer and Capri models, which will result in reduced hours at the Cologne plant in the first quarter of 2025.
Europe's auto industry has been in crisis because of high production costs, a delayed shift to electric vehicles and increased competition in the key China market.
Germany's Volkswagen is among the worst hit, announcing in September that it was considering an unprecedented move to close some plants in Germany.
"The European car industry is in a very difficult and serious situation," Volkswagen CEO Oliver Blume said at the time. | BGNES
