Ford Cuts 14% of European Workforce Amid EV Challenges

Ford announces plans to cut 14% of its European workforce due to weak demand for electric vehicles and stiff competition from subsidized Chinese rivals. This move impacts roughly 4,000 jobs, mainly in Germany and the UK, as Ford seeks to address operational cost challenges amid changing market conditions.

Ford announced a significant reduction in its European workforce, citing weak demand for electric vehicles and intense competition from subsidized Chinese counterparts.

The U.S. automaker revealed plans to eliminate around 4,000 jobs, predominantly in Germany and the United Kingdom, as it grapples with ongoing financial challenges in the electric vehicle sector.

Ford's decision follows industry trends, with giants like Nissan and GM also making cuts. The company seeks governmental incentives to support EV transitions amid rising geopolitical tensions and economic uncertainties.

(With inputs from agencies.)