Connect with us

Hi, what are you looking for?

Business

Ford cuts 3,200 jobs in Europe and moves work to the US

Ford plans to cut 3,200 jobs across Europe, according to Germany’s largest union, as the carmaker looks to slash costs and shift focus towards electric vehicles.

Most of the 2,500 jobs in product development and up to 700 in administrative roles the automaker is hoping to cut are located in Germany, said IG Metall.

The union, which represents 2.2 million members in the metal, electrical, iron, steel and automotive industries, said other cuts could fall at sites in Belgium and the UK, the Financial Times reported.

The workers at the Cologne site, which employs about 14,000 people, were informed of the plans on Monday.

“If negotiations between the works council and management in coming weeks do not ensure the future of workers, we will join the process,” IG Metall said.

“We will not hold back from measures that could seriously impact the company, not just in Germany but Europe-wide.”

The US carmaker has been cutting jobs in Europe for years as it aims to shift its focus to electrified vehicles.

The company’s chief executive, Jim Farley, warned in November last year it takes “40% less labour to make an electric car” than a traditional petrol model.

A statement from Ford said: “We have no comment on the current speculation about a possible restructuring at Ford in Europe.

“Ford remains committed and is currently accelerating its plans to build an all-electric portfolio of vehicles in Europe.

“By 2030, all new passenger cars sold by Ford in the EU will be electric, and by 2035 all new Ford Pro commercial vehicles will be electric.

“This transformation requires significant change in the way we develop, build and sell Ford vehicles, and will impact our organisational structure, talent and skills we will need in the future.

“More details will be shared once our plans are final and we have informed our employees first.”

Read more:
Ford cuts 3,200 jobs in Europe and moves work to the US

Advertisement

    You May Also Like

    Investing

    RevisingTheBankSecrecyAct_NorbertMichelAndJenniferSchulp_CMFAWP007   The post Revising the Bank Secrecy Act to Protect Privacy and Deter Criminals (CMFA Working Paper No.007) appeared first on Alt-M.

    Investing

    Recently, an investment advisor and Bitcoin proponent tweeted the claim that “[f]or most of human history” the “[s]eparation of money and state was the...

    Business

    Rollee enables worker’s to share their professional data, spread over one or more financial platforms. Ali Hamriti, CEO and Co-Founder of Rollee, is on...

    Business

    The energy crisis means that as the price of wholesale commercial energy hits an unprecedented high, businesses must pay notably more for their energy...

    Disclaimer: successfuldealnow.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 successfuldealnow.com | All Rights Reserved