The top player in the car segment Ford Motor is all set to cut over 4,000 Jobs in Europe and the UK. It has been reported that the deadline for the same has been set till the end of 2027.
According to the details shared by the international news agency Associated Press (AP), the decision has been taken due to headwinds from the economy, pressure from increased competition and weaker-than-expected sales of electric cars.
Overall Layoff Numbers
The company’s official said most of the jobs will be cut down in Germany. Everything will be done in consultation with employee representatives, officials added. The reports said an overall 2,900 jobs will be lost in Germany, followed by 800 job cuts in Britain and 300 in other European Union countries.
Here’s What Official Statment Says
In an official statement, the company said, “The global auto industry continues to be in a period of significant disruption as it shifts to electrified mobility. The transformation is particularly intense in Europe where automakers face significant competitive and economic headwinds while also tackling a misalignment between CO2 regulations and consumer demand for electrified vehicles.”
Total Sales and Shares Impacted
Meanwhile, Ford has been struggling in terms of sales for quite a long time now. According to the European Automobile Manufacturers’ Association, the company witnessed a downfall in sales by 15.3 percent in the first nine months of the year compared to the same period last year.
Even the market shares have been affected. It shrank from 3.5 percent to 3 percent.
News auto Ford Motor to Cut 4,000 Jobs in Europe and UK, Here’s Why
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Publish date : 2024-11-21 04:27:00
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