Workforce Reduction and Plant Adjustments
plans to reduce its workforce by 4,000 in and by the end of 2027, with most cuts expected in . The company will also reduce working hours at its plant.
The job cuts and reductions in working time are part of Ford's strategy to address economic headwinds, increased competition, and disappointing electric vehicle sales in the region.
Industry Challenges and Regulatory Pressures
Ford cites the global auto industry's shift to electrified mobility and the intense transformation in Europe as key challenges, including CO2 regulations and consumer demand misalignment.
With the need to meet new lower limits for fleet average CO2 emissions by 2025, European automakers, including Ford, face pressure amidst lagging EV sales and economic factors like inflation.