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Ford cuts 4,000 jobs amid electric car sales slowdown
The Guardian
|November 21, 2024
Ford has said it will cut 4,000 jobs in Europe, becoming the latest carmaker to try to reduce costs amid slowing growth in electric car sales and competition from China.
The American carmaker said yesterday it would axe 800 jobs in the UK and 2,900 in Germany. The company's UK factories in Dagenham and Halewood will not be affected.
The cuts represent about 14% of Ford's 28,000 workforce in Europe and will be completed by the end of 2027. Ford is the latest in a series of global carmakers to aim for cost savings as the industry struggles with waning demand while also trying to invest in the transition to electric cars.
The company also cut back planned production of the new electric Explorer and Capri models, citing the "weak economic situation and lower-than-expected demand".
Ford's factory in Cologne, Germany, will reduce its hours of production after the company spent $2bn (£1.6bn) upgrading it to make battery cars.
Several carmakers have this year said they plan to sell more hybrid cars, which combine an internal combustion engine with a smaller battery.
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