- ford motor company debt It will reportedly cut 3,200 positions across Europe.
- The job cuts are primarily focused in Germany and will affect management and product development roles. bloomberg Reported, citing IG Metal Union.
- This reduction equates to 65% of development jobs and 20% of management jobs in Europe.
- The number of cuts was revealed at an extraordinary works council meeting at the automaker’s plant in Cologne, the report said, citing an IG Metall spokesperson.
- The move comes after the auto giant cut 3,000 jobs in the US in the second half of 2022.
- The report further added that CEO Jim Farley is targeting $3 billion in savings to accelerate profits from traditional internal combustion engine models and use them to develop electric vehicles.
- price action: F shares are trading 3.87% higher at $12.88 at the last check on Monday.
- photo via company
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