The American automaker Ford has announced the thousands of job cuts. The global cost-cutting plan is worth 14 billion dollars and will mainly involve the European segment, where the company is more determined to "strengthen its competitive position and profitability".
The amount of job cuts has not yet been determined by Ford pending a meeting with the unions: "The improvement in structural costs will be supported by a reduction in excess jobs in all functions," the company said in a statement. an official note.
Ford Europe currently it employs 53.000 people and accused an operating loss of 245 million euros in the third quarter, equal to a negative Ebit margin of 3,3%, while the objective is to achieve an operating margin of 6% in Europe.
In particular, the US automotive group has a number of goals on the agenda: exit the multivan segment; stop production of automatic transmissions in Bordeaux in August; review their activities in Russia; combine Ford UK and Ford Credit headquarters in Dunton, UK; shut down loss-making production lines and exit unprofitable markets, reports Reuters.
Dalla Ford, the group vice president and president EMEA Steven armstrong he said: “These are decisive actions to transform Ford's business in Europe. We will invest in models, services, segments and markets that best support long-term profitability and sustainability, while creating value for our shareholders."
Speaking of numbers, Armstrong said that "there will certainly be thousands of positions, there will be a significant impact on employment".
“Ford aims to achieve as much labor cost reduction as possible through voluntary exits to Europe,” the company said.
Globally, analysts estimate that the workforce of Ford could be cut by 24 units.
