Ford to cut THOUSANDS of jobs across Europe in major shake-up

JLR and Ford prepare for mass job cuts

Many automakers are also bracing for an expected slowdown in global demand for cars, Caldwell says. Armstrong believes Ford will soon have "a significantly stronger and more focused product line-up" capable of delivering sustainable profits. "This is not a one or two-year issue". "We have had periods of profitability but not on the level it should be". This is devastating news for the dedicated workers at Ford and their families. "Building on last year's investment in their key plants in Solihull and Halewood to build the next generation of Land Rover models, including electric vehicles".

Passenger Vehicles: Ford will establish a more targeted portfolio of European-built passenger vehicles focused on the quality, technology-rich and fun-to-drive DNA of the Ford brand, with the goal of building emotional connections with customers through sporty and progressive designs.

The motor industry is being hit by a twin jobs blow after two of the UK's biggest carmakers announced shake-ups.

American carmaker Ford plans to cut 1,150 jobs in the UK, the Unite union said on Friday.

Profits at Ford of Europe fell 82 percent a year ago, in part due to the fall in the value of the pound as a result of uncertainty over Brexit.

In 2019 the industry will also have to deal with the threat of a disorderly Brexit in March and the risk that United States president Donald Trump could slap 25% tariffs on European cars and parts.

At the time, Ford Executive Chairman Bill Ford Jr told reporters that talks with Volkswagen about an alliance were going "very well".

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Ford declined to confirm the figures and said it was consulting with unions. Audi, VW's biggest profit center, likewise noted more struggles ahead, reporting a 3.5 percent drop in sales past year.

The automaker said in a statement: "Ford aims to achieve the labor cost reductions as far as possible through voluntary employee separations in Europe". The review also includes "rescaling the footprint of the business" with Ford reviewing the efficiency of its plants, Armstrong said.

The carmaker said it would proceed with plans to close a transmissions plant in France, and it has started negotiations with unions about halting production of the C-Max compact vehicle at a factory in Germany. A review of the Ford Sollers joint venture in Russian Federation is expected to conclude in the second quarter, it said.

In recent quarters, JLR and Ford's profits have lagged behind those of peers BMW, Volkswagen, and Peugeot, ramping up investor pressure on managers to stem losses.

He added that over the coming weeks Ford will share details on how it will restructure its global operations, including in South America and Europe.

The plan, part of a £14bn (Rs 125,929 crore) global cost-cutting programme, is described as "decisive action to transform the Ford business" by Ford president Steven Armstrong.

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