IANS | 10 Jan, 2019
Ford Motor Co said on Thursday that it plans to cut jobs across all
functions in a wider restructuring effort to improve profitability of
its business in Europe, which could also include a potential alliance
with Volkswagen AG on commercial vehicles.
The US car maker said
it was starting consultations with union partners and stakeholders to
create a "sustainably profitable business" in Europe. It aims to achieve
the job cuts through voluntary exits in Europe as far as possible,
reports Efe news.
In the near term, Ford said it plans to reduce
structural costs and adjust its product portfolio to improve financial
"In parallel, the fundamental redesign will include
changes to Ford's vehicle portfolio, expanding offerings and volumes in
its most profitable growth vehicle segments, while improving or exiting
less profitable vehicle lines and addressing under-performing markets,"
the company said.