Ford plans to close plants and slash its workforce in Europe
Share Now on:
The Ford Motor Co. announced Thursday morning that it’s going to “transform” its operations in Europe. That means the automaker will close plants, stop producing some models and lay off what a Ford executive called a “significant number” of its 50,000 European employees.
Ford’s been in Europe for more than a century. It’s also the last American carmaker with a significant presence in Europe. The European economy is showing signs of a slowdown and demand for cars is changing. Ford executives say the company hasn’t been profitable there for decades. GM sold off its European marques and pulled out of the market in 2017. Chrysler never really established a foothold in Europe and is now owned by Fiat, a European carmaker. Ford’s troubles reveal a lot about why it’s been hard for American car companies to succeed in Europe.
Click the audio player above to hear the full story.
As a nonprofit news organization, our future depends on listeners like you who believe in the power of public service journalism.
Your investment in Marketplace helps us remain paywall-free and ensures everyone has access to trustworthy, unbiased news and information, regardless of their ability to pay.
Donate today — in any amount — to become a Marketplace Investor. Now more than ever, your commitment makes a difference.