Ford to cut 12,000 jobs in Europe by end of 2020

Ford to cut 12,000 jobs in Europe by end of 2020

Ford (F.N) said it will have cut 12,000 jobs in Europe by the end of next year to try to return the business to profit, part of a wave of cost reductions in an auto industry facing stagnant demand and record-level investments to build low emission cars, reports Trend citing to Reuters.

The challenge of investing in electric, hybrid and autonomous vehicles while having to overhaul combustion engines to meet new clean-air rules, has forced Europe’s carmakers to slash fixed costs and streamline their model portfolios.

Ford said it has ceased production at three plants in Russia, is closing plants in France and Wales, and has cut shifts at factories in Valencia, Spain and Saarlouis, Germany.

“We have largely concluded consultations with social partners regarding restructuring actions,” Stuart Rowley, president, Ford of Europe told Reuters.

Approximately 12,000 jobs will be affected at Ford’s wholly owned facilities and consolidated joint ventures in Europe by the end of 2020, primarily through voluntary separation programs.

Around 2,000 of those are salaried positions, which are included among the 7,000 salaried positions Ford is reducing globally, the carmaker said. The rest are workers on hourly contracts or agency workers.

Ford Europe has 51,000 employees in Europe or 65,000 when joint ventures are included.

In January Ford announced a sweeping business review which included the prospect of plant closures and discontinuing loss-making vehicle lines to pursue a 6 percent operating margin in Europe.

Demand for cars in Europe is falling, European automobile manufacturers’ association ACEA said on Thursday, predicting that European passenger car registrations will shrink by 1% in 2019 to 15 million cars, revising its previous forecast of 1% growth.

Latvia eyes more investors from Azerbaijan to its ports, logistic hubs
Latvia eyes more investors from Azerbaijan to its ports, logistic hubs
Cargo transportation through Azerbaijan within TRACECA increases
Cargo transportation through Azerbaijan within TRACECA increases
Azerbaijan reveals statistics on electricity generation
Azerbaijan reveals statistics on electricity generation
Loading Bars
Latest
Afghanistan’s Ghani declared winner in contested election
Trump blasts proposed restrictions on selling U.S. jet parts to China
Pakistan Army successfully test fires Ra’ad 2 cruise missile
Turkey demands return to Sochi agreement terms for calm in Idlib
President of Kazakhstan instructs to provide rural schools with access to the Internet
US dollar appreciation won’t necessarily put downward pressure on commodity prices
US advises India, China against buying Venezuela oil
WHO commends steps taken by Sri Lankan authorities to control COVID-19
Latvia eyes more investors from Azerbaijan to its ports, logistic hubs
Cargo transportation through Azerbaijan within TRACECA increases
Iran manufactures its first support vessel for fishing ships
Azerbaijan's gas transportation via Baku-Tbilisi-Erzurum up
Azerbaijan decreases oil transportation via Baku-Tbilisi-Ceyhan
Turkmenistan unveils plan for silkworm cocoon production volumes
Azerbaijan reveals statistics on electricity generation
Azerbaijan’s GDP in Jan. 2020 increases compared to Jan. 2019
Turkmenistan launches cheese production
Azerbaijan’s projected revenues from pomegranate exports revealed
Azerbaijan’s Agency for SMEs, USAID start initiative to support business associations
Executive power of Azerbaijan’s Sheki opens tender on accommodation, catering services
New drilling rig commissioned in Iran
Iran signs agreement related to South Azadegan field
National Iranian Drilling Company talks "Fath 71" drilling rig’s operation
Azerbaijan's State Oil Fund opens tender on printing services
Turkmenistan, Russia hold business negotiations
Minister: Iran dreamt about production of drilling rig
Russian professor talks Azerbaijan's development of digital technologies
Iran discloses production volume of East Oil and Gas Production Company
Passenger transportation by air in Turkey slightly decreases
Georgia draws up agreements for construction of first oil refinery
Iran makes significant progress in Goureh-Jask oil pipeline construction
Azerbaijan’s BakuBus LLC opens tender to repair vehicles
FATF decision won’t affect Iran’s trade relations
Deputy of Azerbaijan's Parliament to participate in OSCE PA winter session
Figures of Iran's foreign trade disclosed
Israeli investors interested in Georgian business environment
Israir airline company to launch flights to Kazakhstan
EU lists Cayman Islands, Panama as tax havens
Walmart sees slowing online sales growth after lackluster holiday quarter
U.N. Libya envoy says Tripoli port was attacked on Tuesday
CEC: All complaints on Azerbaijan's snap parliamentary elections to be seriously considered
Turkey's export of chemical products to US drops
President Ilham Aliyev receives chairman of Board of Baku Transport Agency (PHOTO/VIDEO)
Albania cancels tender for construction of gas pipeline to link Vlora TPP to TAP
Russian professor: Azerbaijan's energy projects driven by economic logic
Investments value in Kazakhstan's geological exploration revealed
Baku holding first meeting of ‘Goodwill Meridians’ volunteer event (PHOTO)
Ministry: Turkey to promote Baku-Tbilisi-Kars railway for movement of tourists
Malaysia interested in cooperation with Georgia
Azerbaijan, Russia to strengthen co-op in ensuring flight safety (PHOTO)
Uzbekistan improves its energy potential via modern technologies
Maersk Drilling updates on hybrid rig project
Azercell supports development of Azerbaijan film industry
Iran discloses oil products put up for sale at Energy Exchange
Azerbaijan's Education Ministry opens tender to purchase printing services
EU-wide Karabakh rally to be held in Berlin (VIDEO)
Azerbaijani postal service opens tender to buy computer equipment
Turkmenistan - International Organization for Migration co-op discussed in Ashgabat
Azerbaijan’s Sumgayit city opens tender to repair streets
Flights on various international routes to be launched in Kazakhstan
Georgia, Estonia plan to increase number of charter flights
Central Bank of Iran talks inflation rate for next 12 months
Car imports to Azerbaijan may decrease due to coronavirus - expert
Jean-Yves Le Drian: France, Azerbaijan need to improve trade balance
Export of electrical goods from Turkey to Azerbaijan increases
Turkey's steel export to Turkmenistan significantly increases
UK to supply Turkmenistan with special materials for racecourses
Azerbaijan's State Border Service to purchase special-purpose clothing via tender
Ministry: Railways under construction in Turkey
Cargo transshipment from US through Turkish ports disclosed
CBI chief: Iran's inclusion in FATF blacklist, unlikely
Uzbekistan, Hungary plan to increase volume of mutual trade
Azerbaijan’s ADY Container talks on new contracts & plans for 2020
Somalian ambassador accredited in Turkmenistan
Iran's domestic production can overshadow sanctions, says minister
Azerbaijani oil prices on Feb. 17
Cashless payments volume significantly up in Kazakhstan
Azerbaijan's State Oil Fund opens tender to buy coffee machines
Iran government not to compensate oil revenues reduction by taxes
Gold price up in Azerbaijan on Feb. 18
Azerbaijani currency rates for Feb. 18
Baku City Main Health Department opens tender to buy drinking water
Iran's economic growth slowing down
Iran's trade volume at threshold of $80B
Azerbaijan - one of financial markets most open to innovation
Azerbaijan’s Sheki winery talks on plans for wine production
New appointments in Mastercard's Rapid Emerging Markets Division
Samarkand airport to increase number of served flights
Strauss buys Brazilian coffee company
India to assist Uzbekistan in developing its nuclear infrastructure
OPEC countries may slow down coronavirus impact on global economy
Turkmenistan receives new influx of hydrocarbons in Caspian region
Famous hotel in Tashkent sold to Ittihad International Investment company
Azerbaijani company talks on alternative energy projects
Uzbek-Korean JV announces tender for supply of lead seals, flexible wire
Athens at standstill as transport staff strike over pension reform
More passengers to leave cruise ship in Cambodia after coronavirus tests
Gunman kills one person at Bangkok shopping mall days after mass shooting
USACC co-chairman talks cooperation with USAID
Turkey - China trade turnover drops
All news