Ford to chop jobs in European revamp
US maker Ford aforementioned on weekday that it plans a serious restructuring of its European operations, together with job cuts, to spice up profit.
The new strategy is geared toward cutting structural prices and redesigning the merchandise lineup for industrial vehicles, traveller vehicles and imports, it said.
"We ar taking decisive action to rework the Ford business in Europe," Steven Armstrong, cluster vp and president for Europe, geographical region and Africa aforementioned in an exceedingly statement.
Ford failed to specify the amount of projected job cuts, however aforementioned it hoped to attain them through voluntary redundancies.
"Structural value enhancements are supported by reduction of surplus labour across all functions –- salaried and hourly," it said.
Among concrete steps in key markets Ford aforementioned it'll finish production of little automatic transmissions in Bordeaux, France.
In Germany, it plans to finish production of the C-Max and Grand C-Max in Saarlouis in response to a shrinking market in Europe for compact multi-purpose vehicles.
In Russia, Ford aforementioned it'll launch a strategic review of its venture Ford Sollers, with many restructuring choices on the table.
Ford additionally plans to consolidate its UK headquarters and Ford Credit Europe's headquarters at the Ford Dunton Technical Center in South East Essex.
Ford employs around fifty three,000 folks at its wholly-owned facilities in Europe -- over 1 / 4 of its worldwide total.
The company has been creating cars in Europe since 1911.
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