News
Poor Demand For EVs Forces Ford To Layoff Over 1000 Employees
Ford will cut approximately 1,000 jobs at its Cologne factory early next year, the company announced Tuesday. Low demand for electric cars is cited as the reason.
Starting in January, production in the German city will switch from two shifts to a single shift, according to Ford. The decision comes less than a year after the company announced major budget cuts at the site.
According to plans presented in 2024, a total of 2,900 jobs will be lost by the end of 2027. This equates to approximately one in four jobs at Ford in Cologne.
Employees who leave voluntarily can expect a generous severance package. The austerity measures led to a historic first strike at Ford’s Cologne factories in May, bringing production to a virtual standstill.
German industry has been struggling for some time, resulting in increasing job losses. On Monday, industrial giant Bosch announced plans to cut €2.5 billion annually at its division that supplies components for the automotive industry. The company is expected to cut even more jobs. Last summer, Bosch announced plans to cut approximately 1,100 jobs at its automotive division in Germany by 2029. This was in addition to the 7,000 jobs lost in a restructuring Bosch announced last year.
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