Home Business Ford Europe Cuts Jobs to Save $200 Million

Ford Europe Cuts Jobs to Save $200 Million

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Ford has announced it is cutting jobs and save $200 million a year in Europe.

The US car giant said it was launching a voluntary redundancy program and improving manufacturing efficiencies.

The company also said it would focus on its most profitable models, such as sports utility vehicles (SUVs).

Ford Europe returned to profit for the first time in four years in 2015, as the parent group recorded record profits of $10.8 billion.Ford Europe job cut

This represented a “good first step”, said Ford Europe executive vice-president Jim Farley.

“We are absolutely committed to accelerating our transformation, taking the necessary actions to create a vibrant business that is solidly profitable in both good times and down cycles.”

The jobs are likely to go at Ford’s main European centers in the UK and Germany.

Ford also said it would be launching seven new or redesigned vehicles this year, including a Focus RS and new Kuga and Edge SUVs.

Ford Europe has closed a number of plants as it struggles to turn around heavy losses. Last year, the company made an operating profit of $259 million in Europe, compared with a loss of $598 million in 2014.

Clyde is a business graduate interested in writing about latest news in politics and business. He enjoys writing and is about to publish his first book. He’s a pet lover and likes to spend time with family. When the time allows he likes to go fishing waiting for the muse to come.

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