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Ford Plans Big Job Cuts as It Overhauls European Unit
Ford Motor Co. says it aims to revamp its product lineup in Europe, close at least one plant, consolidate staff operations and shed thousands of jobs across the region.
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Ford Motor Co. says it aims to revamp its product lineup in Europe, close at least one plant, consolidate staff operations and shed thousands of jobs across the region.
The moves, called Sprint to 6 Reset and Redesign, are intended to eventually turn the company’s European business into a sustainably profitable enterprise with a 6% margin.
The restructuring will divide European operations into three new operating groups: commercial vehicles, passenger vehicles and imports. Ford says it will consolidate the headquarters for its British operations and Ford Credit Europe at the company’s Dunton Technical Center in England.
The company is reviewing its operations in Russia and plans to bolster its highly profitable commercial van business. The carmaker also is studying “significant restructuring options” for its Ford Sollers carmaking venture with Sollers PJSC in Russia. A decision is likely in the second quarter of 2019.
Ford says it intends to shut down its transmission plant in Bordeaux, France, in August. The carmaker also has begun labor talks about ending production of C-Max small MPVs at its factory in Saarlouis, Germany.
Ford says it hopes to shed most of the affected hourly and salaried jobs through voluntary processes. The company has not indicated how many jobs will be eliminated or exactly where and when the reductions will occur.
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