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What will Ford cite as the main reason for job cuts in Europe by end of 2025?
2
Resolution / Starting Odds
Decreased demand for EVs • 25%
Increased competition • 25%
Cost-cutting measures • 25%
Other • 25%
Official statements from Ford and reports from reputable financial news outlets
Story
Ford to Cut 4,000 Jobs in Europe, Including 800 in UK, by 2027
Nov 20, 2024, 02:13 PM
Ford Motor Co. has announced plans to cut approximately 4,000 jobs in Europe by the end of 2027, primarily in Germany and the UK, with 800 of these jobs being in the UK. The decision comes as the company grapples with slowing demand for electric vehicles (EVs) and fierce competition from Chinese rivals. The job cuts represent about 14% of Ford's total workforce in Europe, reflecting the company's efforts to adapt to evolving market conditions and reduce costs amid economic headwinds and the disruptive shift to EVs.
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Similar markets
Weak EV demand • 25%
Competition from Chinese automakers • 25%
Insufficient government support • 25%
Economic headwinds • 25%
Weak EV demand • 25%
Economic headwinds • 25%
Competition from Chinese automakers • 25%
Other reasons • 25%
EV market slowdown • 25%
Cost reduction strategy • 25%
Increased competition • 25%
Other • 25%
Rising costs • 25%
Slowdown in consumer spending • 25%
Increased competition from China • 25%
Other • 25%
Less than 3,000 jobs cut • 25%
3,000 to 4,000 jobs cut • 25%
More than 4,000 jobs cut • 25%
Restructuring plan canceled • 25%
Cost-cutting measures • 25%
Shift to electric vehicles • 25%
Market competition • 25%
Other • 25%
Germany • 25%
UK • 25%
Other European countries • 25%
Even distribution • 25%