Ford has announced turnaround plans which are expected to see thousands of jobs cut across Europe, however the immediate impact on the UK is expected to be limited.
The car manufacturer is in conversation with unions regarding its measures to cut costs, including focusing on its more profitable models and cancelling those which are less profitable. Ford says it will focus its future on electric and hybrid technology and will expand its commercial vehicle arm.
Ford hopes that the shake-up will achieve an operating margin of 6% for its European arm. Steven Armstrong, the group’s European vice president said the company was “taking decisive action to transform the Ford business in Europe”. Ford said it expected a “reduction of surplus labour” across all of its business divisions.
Currently, the car manufacturer operates two engine factories in the UK, located in Dagenham and Bridgend, as well as a joint venture with the gearbox manufacturer Getrag on Merseyside.