U.S. automaker Ford plans to slash over 5,000 jobs in Germany and will decrease its workforce in Britain as well as it seeks to return to profit in Europe, the company stated on Friday.
Ford has provided voluntary redundancy programs for workers in Germany and Britain, it stated in a statement.
This is part of a turnaround plan declared by the automaker in January that would include thousands of job cuts, looking at plant closures and discontinuing loss-making auto lines.
“Through these programs and other initiatives, Ford of Germany expects to decrease its headcount in excess of 5,000 jobs, including temporary staff,” the company stated.
The total number of positions affected in Britain is still to be figured out, it added.
Ford also declared it would streamline its lineup by enhancing “or exiting less profitable vehicle lines”.
Ford Europe has been losing money for years and pressure to reorganize its operations has boosted since rival General Motors raised profits by selling its European Opel and Vauxhall brands to France’s Peugeot.
Ford’s turnaround plan is intended at achieving a 6 percent operating margin in the continent.