Ford to shed jobs as it streamlines European business

Ford to shed jobs as it streamlines European business

Car giant Ford is to shed jobs across its European operations under plans to save $200m a year.

The group said it is launching a voluntary redundancy programme as it looks to slash costs across “all areas” of the European business.

It comes in the face of mounting regulatory costs, according to the group.

Ford Europe returned to profit in 2015 for the first time in four years.

But bosses announced aims to ramp up the group’s overhaul and unveiled a revamped line-up of cars.

Jim Farley, head of the car maker’s European business, said: “We are creating a far more lean and efficient business that can deliver healthy returns and earn future investment.

“Our job is to make our vehicles as efficiently as possible, spending every dollar in a way that serves customers’ needs and desires, and creating a truly sustainable, customer-focused business.”

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