Ford Announces Thousands of Job Cuts Across Europe

Ford Announces Thousands of Job Cuts Across Europe

The savings and "cashflow improvements" will be made over the next 18 months.

Mr Armstrong said the company is in negotiations with worker representatives about potential job cuts at its Saarlouis plant in Germany.

The strategy will also drive electrification of the fleet further.

An engineer for JLR at its Whitley plant near Coventry told the BBC that, "It's not clear what's going on", and, "A lot of people are wanting to stay here long term".

While the company confirmed it plans to take action, it didn't offer specifics, particularly how many jobs cuts can be expected.

An alliance would help Ford achieve its goal of doubling global pretax profit margins to 8 per cent by 2020, up from 4.4 per cent in the third quarter of 2018.

"The economic slowdown in China along with ongoing trade tensions is continuing to influence consumer confidence", said Jaguar Land Rover Chief Commercial Officer Felix Brautigam.

The UK's biggest vehicle manufacturer Jaguar Land Rover (JLR) also announced on Thursday it would cut 4,500 jobs, or about 10% of its workforce, in a bid to save money.

The company's Vice President in Europe, Steve Armstrong, said: "We are taking decisive action to transform the Ford business in Europe". The overall plan is to have a "more targeted, emotive portfolio of European-built passenger vehicles". Speaking to reporters after the announcement, Mr Armstrong said the firm "needed to address the parts of the business that are unprofitable".

Mr Armstrong declined to say how many jobs will be cut, but he said the impact will be "significant".

'Unite is fully committed to opposing any compulsory redundancies and campaigning strongly for Bridgend to have a viable future.

The automaker employs approximately 54,000 people in Europe.

We have already heard this week about Ford's review of its European operations - as well as the cutbacks at Jaguar Land Rover.

Mr Quinn said Unite will scrutinise the business case for JLR's job cuts, and the union expects any United Kingdom redundancies to be voluntary. "To weather this volatile external scenario, we have launched a comprehensive turnaround plan to significantly improve our free cash flows and profitability".

"The Welsh Government will continue to work closely with Ford to protect the hundreds of highly skilled jobs & supply chain, as well as look for other high-technology opportunities for the site".

VW investing in that Ford business, and Ford licensing Volkswagen's MEB electric vehicles platform.

The automaker now has about 53,000 people working at its wholly-owned facilities across Europe primarily in the United Kingdom, Spain, and German. All new models in the European Union are to be sold with an electric or hybrid option. The stock plunged 39 percent past year.

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