Ford to cut 3,800 jobs in Europe in shift to electric vehicle production
Publishing timestamp: 2023-02-14 07:25:15
Summary
Ford announced it will cut 3800 jobs in Europe over the next three years in order to transition to a "leaner" structure and focus on electric vehicle production. The job cuts will be split between Germany, the U.K., and other countries in Europe. Ford also reported a $11 billion loss in the fourth quarter of last year and is investing $50 billion in electric vehicles and other technologies by 2026.
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Tickers: F,
Keywords: ford motor co, layoffs, business news, economy, markets, jobs, autos,