Reuters | Mar 15, 2019 16:25
BERLIN (Reuters) - U.S. automaker Ford plans to cut more than 5,000 jobs in Germany and will reduce its workforce in Britain as well as it seeks to return to profit in Europe, the company said on Friday.
Ford has offered voluntary redundancy programmes for employees in Germany and Britain, it said in a statement.
This is part of a turnaround plan announced by the carmaker in January that would involve thousands of job cuts, looking at plant closures and discontinuing loss-making vehicle lines.
"Through these programmes and other initiatives, Ford of Germany expects to reduce its headcount in excess of 5,000 jobs, including temporary staff," the company said.
The total number of positions affected in Britain is still to be determined, it added.
Ford also announced it would streamline its lineup by "improving or exiting less profitable vehicle lines".
Ford Europe has been losing money for years and pressure to restructure its operations has increased since arch-rival General Motors (NYSE:GM) raised profits by selling its European Opel and Vauxhall brands to France's Peugeot.
Ford's turnaround plan is aimed at achieving a 6 percent operating margin in Europe.
Written By: Reuters
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