London CNN —Ford plans to cut almost 4,000 jobs in Europe over the next three years, about 14% of its workforce in the region, as the carmaker faces slowing demand for electric vehicles and rising competition from China.
“The global auto industry continues to be in a period of disruption, especially in Europe, where the industry faces unprecedented competitive, regulatory and economic headwinds,” Ford said in a statement.
Last year, the company said it would axe around 4,900 jobs across Europe.
The news of the Ford cuts comes just weeks after Volkswagen said it would trim employee pay by 10% to protect jobs and safeguard the company’s future.
The German automaker plans to close at least three factories in its home country and lay off tens of thousands of staff as it grapples with a weak car market in Europe and a steep loss of market share in China.
Persons:
London CNN — Ford, ” Ford, Dave Johnston, Ford, ”, John Lawler, ” Lawler
Organizations:
London CNN, ” Global, Ford, Volkswagen
Locations:
Europe, China, Germany, United Kingdom, Western