Ford Motor Co. says it will reduce its workforce by 4,000 in Europe and the U.K. by the end of 2027, citing headwinds from the economy and pressure from increased competition and weaker than expected sales of electric cars.
Ford said Wednesday most of the job cuts would come in Germany and would be carried out in consultation with employee representatives.
The company said that it would also reduce working time for workers at its Cologne, Germany plant where it makes the Capri and Explorer electric vehicles.
Dave Johnston, Ford's European vice president for transformation and partnerships, said in a statement that "it is critical to take difficult but decisive action to ensure Ford's future competitiveness in Europe."
The company said that "the global auto industry continues to be in a period of significant disruption as it shifts to electrified mobility."
