Ford to reportedly cut 3,200 jobs in Europe

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Ford Motor Co is reportedly the latest large corporation laying off thousands, with plans to cut 3,200 jobs across Europe, mainly in Germany, reports said, quoting Germany’s IG Metall union. The US auto manufacturer also plans to move some product development work to the US. The planned workforce reduction is part of the company’s efforts to cut costs to face ongoing macroeconomic conditions amid recession fears. Rising electric vehicle (EV) battery material costs are said to be a major issue for Ford, which has set a target of attaining half of global sales from EVs by 2030. The company recen…

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