30.1 C
Delhi
Saturday, July 13, 2024

Iconic US car giant set to leave Germany – Bild

Ford has reportedly announced massive management downsizing at its Cologne plant

US car manufacturer Ford has imposed significant management cuts at its German plant in Cologne, under a restructuring plan that could see the auto giant leave the country, Bild reported on Thursday.

According to the newspaper, concerns in its German unit are mounting after Ford announced that only four of the ten current managing directors will retain their positions.

“As part of the transformation of the European business, Ford is simplifying its administrative and management structure in Germany and downsizing the management of Ford-Werke GmbH,” the carmaker was cited as saying in a statement. “With effect from July 1, 2024, a maximum of four members will form the management.”

Supervisory Board Chairman Kieran Cahill argued that the drastic step is needed to simplify Ford’s administrative and management structure in Germany. The move “gives us more speed of action and allows the management team to concentrate fully on its operational tasks and lead Ford into a successful future,” Bild quoted him as saying.

Read more

RT
EU’s top economy is in trouble – Bloomberg

Ford announced massive layoffs last year as part of an austerity plan, saying it will cut 3,800 jobs in Europe, mostly in Germany, as it shifts to electric vehicle (EV) production, which requires less personnel.

The carmaker has already halfway completed its previous restructuring plan of 2,300 job cuts in Germany, reducing the staff number to 13,000, the head of the works council at the Cologne plant, Benjamin Gruschka, told Reuters.

Last week, Ford announced plans for further job cuts in Germany without specifying the number of additional layoffs.

June 28, 2024 at 08:31PM
RT

Most Popular Articles