Tuesday, August 9, 2022

Ford to cut 5000 jobs in Germany


Zubair Yaqoob
The author has diversified experience in investigative journalism. He is Chief content editor at wnobserver.com

Carmaker Ford wants to reduce more than 5000 jobs in Germany. The workforce was informed on Friday, a spokeswoman said. The job cuts should therefore be achieved through severance payments and early retirement, operational redundancies wanted to avoid.

The group wants to save at least $ 500 million and in Europe as soon as possible to return to a profitable business. The company has in the past ten years, namely “cannot achieve sustained positive operating result.”

Ford employs more than 24,000 people in Germany – almost 18,000 in Cologne, 6,000 in SaarLouis and about 200 in Aachen. All three locations would be affected by the job cuts. This is the core workforce – in addition there are the temporary workers whose numbers are unclear.

The announced job cuts will affect both the core workforce and the temporary workers.

Ford had already announced in early January to rebuild its European business and to cut thousands of jobs in Europe.

At that time, the company said it wanted to reduce both commercial and commercial jobs in all parts of the business. For the conversion therefore also includes “less profitable model series” to adjust and “markets with weaker potential” to examine.

The market share of the American group has been falling in Europe for years – from about eleven percent in 2006 to 6.4 percent last year.

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