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American automaker Ford Motor Company will optimize its European workforce with 3,800 employees over the next three years. As reported by Ukrinform, this was reported by Reuters. About
As reported by Ukrinform, this was reported by Reuters.
About 2,300 workers will be laid off at the automaker’s Cologne and Aachen plants in Germany, 1,300 in the UK and 200 in the rest of Europe, according to the company.
Ford added that it plans to achieve results by reducing employee turnover through voluntary programs.
The news is said to be a “blowout” to unions, which said in late January the worst-case scenario would be to lay off 2,500 workers in product development departments and 700 in administrative positions at Ford in Europe.
Ford’s European workforce most recently saw a wave of layoffs in 2019 and 2020, as the automaker then sought to achieve an operating margin of 6% in the region. A goal that the company was unable to reach due to the coronavirus pandemic.
At the same time, the company’s profitability before tax in Europe in the first nine months of 2022 was only 2.2% of sales.
As Ukrinform reported, the American automaker Ford Motor Company announced its withdrawal from the Russian market.
Source: Ukrinform
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