Ford May Slash 12% of Jobs in Revamp of Europe Ops: Sunday Times
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Ford Motor Co. may cut up to 24,000 jobs and stop producing models such as the Mondeo as it tries to revive its European business, the Sunday Times reported.
The second-largest U.S. carmaker lost $73 million in Europe between April and June, hurt by declining diesel sales and weak car offerings, the newspaper said. Ford faces additional uncertainty from Brexit, which could lead to tariffs on cars and parts traded between the U.K. and continental Europe, the Times said.