Ford will cut 3,800 jobs in Europe over the next three years to build a “leaner” structure as it focuses on electric vehicle production.
The restructuring plan will see the loss of 2,300 jobs in product development and administration in Germany, 1,300 jobs in the UK, and 200 jobs elsewhere in Europe. Approximately 3,400 engineering roles in Europe will be retained, focused on vehicle design and development, alongside the creation of linked services. The company said that it employs around 34,000 people in Europe.
Despite the job losses, Ford will maintain its objective to provide an all-electric fleet by 2035. The automaker is expected to begin production of its first European-built electric passenger vehicle later this year.
The company’s restructuring follows the massive losses it incurred in the fourth quarter of 2022, which were down $11 billion on the same period of the previous year and $1.1 billion short of the automaker’s own guidance.