According to European Automotive News on February 3, Ford announced that it will lay off employees in Europe, with a view to saving $200 million in costs.
Ford Europe President Jim Farley said the company will launch a voluntary layoff project. It is reported that Ford currently has 10,330 employees in Europe. The company did not publish specific data. According to the previously launched laid-off project, Farley expects to accept hundreds of employees for this project.
Ford announced that layoffs in Europe will lay off hundreds of employees
Ford lost $3.1 billion in Europe between 2012 and 2014, and its pre-tax profit for 2015 was $259 million. The company expects to achieve higher profits this year, and in the long run, the profit margin will reach 6%-8%.
In addition to saving on administrative costs, Ford also announced a 7% reduction in European production costs. Farley said in an interview that automated production will help Ford achieve lower production costs. “Automated production can greatly improve our work efficiency.â€
Ford will launch a total of seven new and redesigned models this year, including the Ford RS.
The company also plans to expand its luxury sub-brand "Vignale" and start expanding the European automotive market with Mondeo, S-Max and three other cars. In addition, Ford also plans to introduce new plug-in hybrid and pure electric vehicles in Europe.
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