Ford Layoffs: Preparations are underway for large-scale layoffs at the auto sector’s giant American MNC Ford. Ford Motor Company has prepared a plan to lay off about 4 thousand employees in Europe in three years, which is about 14 percent of its workforce here. The company has taken this decision due to the lack of demand for electric vehicles (EVs), increasing competition from China, and the weak condition of the European market.
Ford Layoffs: Preparations are underway for large-scale layoffs at the auto sector’s giant American MNC Ford. Ford Motor Company has prepared a plan to lay off about 4 thousand employees in Europe in three years, which is about 14 percent of its workforce here. The company has taken this decision due to the lack of demand for electric vehicles (EVs), increasing competition from China, and the weak position of the European market. The company says that the company is also facing regulatory challenges in Europe at this time. Regarding this decision of layoffs, the company’s European Vice President Dave Johnson said that this is a necessary step to improve Ford’s future.
These countries will be hit the most
Ford Motor has prepared a plan to lay off about 4 thousand employees from the company in three years. However, its biggest impact will be on employees working in only two countries – Germany and the United Kingdom. The layoff process will be completed by 2027, but the final decision on it will be taken only after talks with the labor union.
What problems is Ford Motor facing?
The demand for Ford Motor’s electric vehicles is looking weak, due to which the company has reduced the production target. The working days of the employees are getting reduced. Apart from this, the company is also facing tough competition from Chinese companies which are offering cheap and better technology vehicles. Not only Ford but Volkswagen is also facing a lot of problems. In such a situation, the company has planned a 10% cut in salaries. Along with this, it has also announced the closure of three factories and layoff of thousands of employees.
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