Ford will cut 12,000 jobs in Europe by the end of 2020 in an effort to return company to profit
) said it will cut 12,000 jobs in Europe by the end of next year to try to return the business to profit, part of a wave of cost reductions in an auto industry facing stagnant demand and huge investments to build low emission cars.
Ford said it would close three plants in Russia, a plant in France and Wales, and cut shifts at factories in Valencia, Spain and Saarlouis, Germany. About 12,000 jobs will be affected at Ford’s wholly owned facilities and consolidated joint ventures in Europe by the end of 2020, primarily through voluntary separation programs.
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