Ford to cut 4,000 jobs in Europe as it faces economic headwinds and weak EV sales

abcnews.go.com:

Ford is cutting its workforce by 4,000 in Europe and the U.K. by the end of 2027, citing headwinds from the economy and pressure from increased competition and weaker-than-expected sales of electric cars

FRANKFURT, Germany — Ford Motor Co. says it will reduce its workforce by 4,000 in Europe and the U.K. by the end of 2027, citing headwinds from the economy and pressure from increased competition and weaker than expected sales of electric cars.

Ford said Wednesday most of the job cuts would come in Germany and would be carried out in consultation with employee representatives.

Of the total, 2,900 jobs would be lost in Germany, 800 in Britain and 300 in other European Union countries. Ford has 28,000 employees in Europe, and 174,000 worldwide.

“The global auto industry continues to be in a period of significant disruption as it shifts to electrified mobility,” the company said in a statement. “The transformation is particularly intense in Europe where automakers face significant competitive and economic headwinds while also tackling a misalignment between CO2 regulations and consumer demand for electrified vehicles,” the statement said.

In Europe, automakers must sell enough electric vehicles to meet new, lower limits for fleet average carbon dioxide emissions in 2025, and face a longer term 2035 EU goal of reducing emissions to zero, which would mean the elimination of most vehicles with internal combustion engines.

EV sales however have lagged as consumers weary of inflation have held back on spending and after major car market Germany dropped government purchase incentives for EVs. Electric vehicles sales fell by 5.8% in the first nine months of the year in an overall shrinking market for cars. Carmakers are also