💨 Abstract

Ford plans to cut around 14% of its European workforce, primarily in Germany and the UK, due to weak demand for electric vehicles, poor government support, and competition from subsidized Chinese rivals. The job cuts, affecting 4,000 employees, are expected to take place by 2027. Ford is facing challenges in the EV market, with consumers finding them expensive, and has called for better incentives and charging infrastructure from governments, particularly Germany.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖