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Ford Announced That It is Laying Off 14% Of Its European Workforce
Ford announced on Wednesday that it would be laying off approximately 14% of its European workforce. The company attributed this decision to significant losses in recent years, compounded by weak demand for electric vehicles, insufficient government support for the transition to electric vehicles, and rising competition.
The US company is another automaker after Nissan, Stellantis and GM to cut costs as the industry grapples with growing competition from Chinese rivals in Europe, declining demand in China and the challenges of a switch to electric vehicles that remain too expensive for most consumers. shopping.
Ford said the 4,000 layoffs would be primarily in Germany and the United Kingdom. Globally, the layoffs represent about 2.3% of Ford’s workforce of 174,000.
The measures will be a major blow, especially to Germany, Europe’s biggest economy and biggest carmaker, where Volkswagen is threatening to close factories, cut wages and lay off thousands of workers to improve its competitiveness.
The country’s deepening political crisis also adds uncertainty to companies struggling with rising trade tensions with China and Donald Trump’s US election victory. Ford said the layoffs in Europe should take place by the end of 2027.
European automakers “face significant competitive and economic headwinds while also dealing with the mismatch between CO2 regulations and consumer demand for electrified vehicles,” the company said in a statement. Through September of this year, Ford’s sales in Europe were down 17.9%, far outpacing the industry-wide decline of 6.1%.
Ford also specifically called on the German government to provide more incentives and better-charging infrastructure to help consumers switch to electric vehicles.
Berlin abolished subsidies for electric vehicles in December last year. Sales of electric vehicles in Germany fell by 28.6% in the first nine months of this year.
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