US vehicle makers lay off 14 percent of employees in Europe
Date
11/25/2024 1:56:18 AM
(MENAFN) US vehicle production Ford has stated it will lay off 4,000 of its employees in Europe, becoming the recent vehicle maker to try to cut costs amid weak electric vehicle (EV) sales and competition from China.
The job cuts symbolize around 14 percent of Ford’s 28,000 employees in Europe and nearly 2.3 percent of its overall employees of 174,000, and will be completed by the close of 2027, the firm stated on Wednesday. The bulk of the layoffs will happen in Germany, where 2,900 spots are in risk, and in Britain, with an estimated 800 jobs to be finished.
The US automaker will be the latest following Nissan, Stellantis, and GM to resort to the drastic step in a bid to cut costs as the automobile field experience issues, such as weak EV purchases. Ford declared huge layoffs in the previous year as part of an austerity plan, stating it will finish jobs as it shifts to EV manufacturing, which needs less personnel.
Dave Johnston, Ford’s European vice leader for transformation and collaborations, stated in a statement that it is “critical to take difficult but decisive action to ensure Ford’s future competitiveness in Europe.”
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