Ford Plans Significant Job Cuts at German Plant Amid Ongoing Losses

Nov 20, 2024

Ford Motor Company (F, Financial) has announced plans to lay off 2,900 employees at its plant in Cologne, Germany, by 2027. This decision comes as a response to continuous financial losses at its German facilities. The company aims to reduce costs through these layoffs.

Currently, Ford operates two plants in Germany, employing approximately 15,000 workers. In addition to the Cologne plant layoffs, Ford also intends to close its plant in Saarland next year. The automaker's broader restructuring strategy involves cutting a total of 4,000 jobs across various European countries.

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