10/01/2019 17:30
Ford to cut thousands of jobs in turnaround plan
Carmaker Ford has announced plans for a major shake-up of its operations in the UK and mainland Europe.
It is expected to lead to thousands of job losses across the continent, although the immediate impact on its UK operations is expected to be limited.
But Ford Europe boss Steven Armstrong said should the UK leave the EU without a negotiated deal, a further review of UK operations would take place.
Ford is now going to talk to unions about measures to reduce costs.
This includes focusing on more profitable models and exiting less profitable markets, to concentrate more in future on electric and hybrid technology.
The firm will also expand its commercial vehicle business, which will be one of three new divisions being created, along with passenger vehicles and imported vehicles.
Ford hopes the changes will enable it to achieve a 6% operating margin in Europe.
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