Ford announces job cuts in Europe

Ford has announced a reduction of its workforce in Europe, specifically targeting its operations in Germany and the United Kingdom. The company plans to eliminate a total of 3,800 jobs, with 2,300 positions being cut in Germany and 1,300 in the UK. An additional 200 jobs will be affected in other parts of Europe. The majority of these cuts will impact engineering roles, reflecting a strategic shift within the company as it navigates challenges in the automotive market. The decision comes amid significant financial losses in Ford's electric vehicle sector, which reported a loss of $3 billion before taxes. This financial strain has prompted the company to reassess its workforce and operational strategies in order to maintain competitiveness in a rapidly evolving industry.