European job cuts come amid challenges in shift to EVs
Job cuts primarily in Germany, UK; affects 2.3 of global force
Ford urges German government for better EV support, incentives
Ford shares down 1.8
LONDONCOLOGNE, Nov 20 Reuters Ford said it would cut around 14 of its European workforce on Wednesday, blaming losses in recent years due to weak electric vehicle demand, poor government support for the EV shift and competition from subsidized Chinese rivals.
Ford said the 4,000 job cuts, which represent around 2.3 of its total workforce of 174,000, would be primarily in Germany and Britain. The U.S. automaker is the latest after Nissan, Stellantis and GM to cut costs as the sector faces challenges that include EVs that are too expensive for consumers to buy.
Shares in Ford were down 1.8 following news of the measures, which will be a big blow in particular for Germany, where Europe39;s biggest carmaker Volkswagen is threatening to close factories, cut wages and axe thousands of jobs to allow it to compete better.
Ford has been battling to bring down costs in its global business, also lagging competitors like GM significantly in the U.S. market where it has struggled to deal with quality and warranty problems, supplier issues and waste in the automaker39;s 121year legacy business.
Germany39;s deepening political crisis, too, has added uncertainty for companies grappling with growing trade tensions with China and implications of Donald Trump39;s U.S. election…