plans to cut 3,800 jobs in Europe over the next three years as it looks to lower costs while shifting production toward electric vehicles.
(ticker: F) said the job cuts are made up of around 2,800 engineering jobs due to the auto maker’s transition to fully electric powertrains and reduced vehicle complexity, and around 1,000 jobs in administrative, marketing, sales and distribution functions.
“The actions announced today align
‘s product development organization and administrative functions in Europe, with a smaller, more focused, and increasingly electric product portfolio,” the company said in a statement.
The cuts come as Ford seeks to slash costs globally ahead of the industry transition to battery-powered personal transportation.
Ford shares were up 0.2% in premarket trading on Tuesday.
By location, 2,300 jobs are set to be lost in Germany and 1,300 in the U.K., with the remainder in other parts of Europe. Ford said the job reductions would be carried out through voluntary departures and that it would maintain an engineering organization of about 3,400 staff in Europe.
Ford employs roughly 34,000 people in Europe at its wholly owned facilities and consolidated joint ventures. Ford said it wasn’t changing its plan to offer an all-electric fleet in Europe by 2035, as it introduces more models to the market.
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