Ford Motor Co. promised Thursday to stem the bleeding of its overseas operation with 12,000 confirmed job cuts, factory closures and a business redesigned “for profitability, efficiency” with more electric vehicles in Europe, according to a news release issued from Germany.
Overall, approximately 12,000 jobs will be impacted at Ford’s wholly owned facilities and consolidated joint ventures in Europe by the end of 2020, primarily through voluntary separation programs, the company confirmed Thursday. Around 2,000 of those are salaried positions, which are included among the 7,000 salaried positions Ford is reducing globally.
“Our future is rooted in electrification,” said in a prepared statement.