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Ford Expected to Cut “Thousands” of European Jobs

European unit wants 6% profit margin by 2020.

by Michael Strong on Jan.10, 2019

Steven Armstrong, Ford of Europe's chief, confirmed the unit is taking measures and examining other options to become profitable.

With speculation swirling about the details of an almost certain link up between Ford Motor Co. and Volkswagen AG, the company announced it plans to cut “thousands” of jobs in Europe in the near term.

“We are taking decisive action to transform the Ford business in Europe,” Steven Armstrong, group vice president, Europe, Middle East and Africa, said in a statement on Thursday.

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Ford Europe has been a money loser for several years and now needs to restructure its operations to turn that trend around. The unit employs about 53,000 people. (more…)