Ford's Europe Unit Asks Employees to Quit to Boost Profit Margin
- Carmaker to eliminate less profitable models, focus on SUVs
- Ford sees modest growth in European car market this year
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Ford Motor Co. is asking some of its European employees to quit as part of an effort to boost margins that will also eliminate some models in favor of popular and lucrative sport utility vehicles.
The company aims to save about $200 million annually by paring back its 10,000-person European workforce, who are based mostly in Germany and the U.K., Ford said Wednesday. The program will probably help cut jobs “in the hundreds,” Jim Farley, Ford’s executive vice president for the region, said in an interview.