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Ford to cut jobs to strengthen European business

IANS  |  Madrid 

said on Thursday that it plans to cut jobs across all functions in a wider restructuring effort to improve profitability of its business in Europe, which could also include a potential alliance with AG on commercial vehicles.

The US said it was starting consultations with union partners and stakeholders to create a "sustainably profitable business" in It aims to achieve the job cuts through voluntary exits in as far as possible, reports news.

In the near term, Ford said it plans to reduce structural costs and adjust its product portfolio to improve financial performance.

"In parallel, the fundamental redesign will include changes to Ford's vehicle portfolio, expanding offerings and volumes in its most profitable growth vehicle segments, while improving or exiting less profitable vehicle lines and addressing under-performing markets," the company said.

--IANS

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, January 10 2019. 17:46 IST
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