Ford Motor Stock News

Ford Motor Company has unveiled plans to slash 3,800 jobs across Europe by the end of 2027, as it grapples with the challenges of electrification and increasing competition from Chinese electric vehicle (EV) manufacturers. The majority of these layoffs will affect administrative, support, and product development roles, with some manufacturing positions also at risk.

The automaker said the industry shift to electric vehicles and heightened competition were “highly disruptive.”

A supermajority of workers at a Ford Motor battery plant in Kentucky have signed cards indicating their support for the United Auto Workers, the union said Wednesday.

The American automaker said the cost-cutting measure would help it compete with Chinese rivals in the face of slowing demand for electric vehicles.

Ford outlined plans to lay off 4,000 employees in the U.K. and Germany in response to a series of losses it blamed on unprecedented competitive, regulatory and economic headwinds in Europe's car market.

Ford Motor Company (NYSE:F) is to axe 800 jobs in the UK under wider plans to cut thousands of roles across Europe on flagging demand for electric vehicles (EVs). Ford's parts distribution site in Daventry and its Dunton research centre are among six sites which could be hit, with the carmaker employing 5,300 people in the UK.

Ford is cutting 4,000 jobs in Europe after "significant losses" in its passenger vehicle operations. The company also cited rising competition and weaker-than-expected demand for EVs.

Ford said on Wednesday it would cut around 14% of its European workforce, blaming significant losses in recent years compounded by weak demand for electric vehicles, a lack of government support for the shift to EVs, and rising competition.