Ford's Cologne Plant Faces Job Cuts Amid Sluggish EV Demand
Ford Motor Co. is planning to cut up to 1,000 jobs at its electric vehicle plant in Cologne, Germany, due to lower than anticipated demand for EVs. This reduction follows a previous restructuring plan to reduce Ford's workforce. The plant will reduce its shifts due to slower-than-expected growth.
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- Germany
Ford Motor Co. announced plans to cut up to 1,000 jobs at its electric vehicle plant in Cologne, Germany, citing weaker-than-expected demand for battery-powered cars. The job cuts are expected to be achieved through voluntary departures and buyouts.
This move is part of a broader restructuring strategy revealed last November, which projected a reduction of 4,000 positions across Europe and the UK, including 2,900 in Germany. Ford continues to assess production levels and adapts to demand fluctuations.
Despite a rise in EV market share in Europe to 15.6% through July, growth has lagged due to Germany's subsidy reductions. The Cologne plant will shift to a single daily production shift starting January.
(With inputs from agencies.)
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