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Ford’s Global Cost Purge Hits Europe With Thousands of Job Cuts

  • Carmaker to drop unprofitable models, review plant closures
  • Europe CEO sees significant improvement in business this year
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Bloomberg’s Craig Trudell reports on Ford’s plans to cut thousands of jobs in Europe.(Source: Bloomberg)
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Ford Motor Co. will cut thousands of jobs, weed out slow-selling models and potentially close factories in Europe, as the carmaker’s global cost-cutting drive targets a region that has dragged on earnings for years.

The automaker, which employs some 54,000 workers across the region mainly in Germany, the U.K. and Spain, will also review its joint venture in Russia, part of a host of measures that Steven Armstrong, Ford’s head of Europe, called a “step-change in the performance of the business.” He didn’t specify the number of possible job cuts and said that plant closures are an option to streamline operations.