Ford said it would cut 4,000 jobs from its business in Europe, while also lowering production estimates for its upcoming Explorer and Capri electric vehicles.
The planned cuts, which amount to 14 percent of the automaker’s European operations, will primarily affect its workers in Germany and the UK, with “minimal reductions” coming from other European markets.
The news comes as EVs continue to lose momentum in markets around the world, as governments eliminate subsidies and economic headwinds force many automakers to rethink their strategies.
Image: Ford
It also comes at a tough time for Ford, which has been dealing with disruptions both at home and abroad. The company recently paused production of its F-150…