Ford (F) is set to reduce its European workforce by around 4,000 employees, approximately 14% of its regional headcount, citing weak demand for electric vehicles (EVs), insufficient government support for the EV transition and competition from subsidized Chinese automakers. The layoffs, representing 2.3% of Ford's global workforce of 174,000, will primarily impact Germany and the U.K., with 2,900 and 800 positions cut, respectively. The U.S. auto giant plans to complete the layoffs by 2027. The move is part ...

In this articleFSTLAElectric vehicle start-up Lucid on Sept. 28, 2021 said production of its first cars for customers has started at its factory in in Casa Grande, Arizona.LucidDETROIT — The auto industry has an addiction. It's a "capital junkie" that's been on a yearslong binge of unprecedented spending on all-electric and autonomous vehicles. And now, it's waking up from the bender and entering rehab.Automakers from Detroit to Japan and Germany are attempting to lower costs and reduce expenses amid econom ...

Ford Motor Co. expects a major reduction in its European workforce due to stricter emissions standards on electric vehicles, which the company cites as a key factor in its cutbacks. On Wednesday, the automotive giant announced that 4,000 jobs would be slashed across the U.K. and Europe by 2027 amid pressure to reach the European Union's goal of zero emissions by 2035. The loss equates to a 14% cut to the company's workforce in Europe, which, according to the Associated Press, currently stands at about 28,00 ...

TORONTO, Nov. 21, 2024 (GLOBE NEWSWIRE) -- “Yesterday, the Government of Ontario introduced the Cutting Red Tape, Building Ontario Act, 2024 within their Fall 2024 Red Tape Reduction Package, which, if passed, will provide better services, keep costs down, and bolster the economy. OREA is pleased to see the Ford Government continuing to address the housing affordability crisis by working to fix administrative backlogs, streamline approvals, and remove barriers to building more homes. Some of these solutions ...

The logo of the Ford Motor Company is displayed on the front grille of an electric Ford Transit ... [+] being charged in a dealership in Bristol, U.K. (Photo: Matt Cardy)Getty ImagesAutomobile manufacturing giant Ford has announced 4,000 job cuts across its European operations blaming stalled electric vehicle sales on the continent.The move is said to be part of a wider restructuring program, with the company's employees in Germany and the U.K. bearing the brunt of the announced cuts spread over the next th ...

Advertisement Ford is cutting 4,000 jobs in Europe after "significant losses" in its passenger vehicle operations.The company also cited rising competition and weaker-than-expected demand for EVs.Ford CFO John Lawler called for joint industry action in a letter to the German government.Ford said it would cut 4,000 jobs in Europe by the end of 2027 amid rising competition and weaker-than-expected demand for EVs.The job cuts will mostly affect Germany and the UK after the company suffered "significant losses ...

Ford (F) is facing regulatory scrutiny for insufficient or ineffective recalls just days after being fined by the National Highway Traffic Safety Administration (NHTSA). The agency has now launched two separate investigations into recent recalls.The first probe involves approximately 113,000 Ford Expeditions from model years 2019–2020. In February, Ford recalled about 78,000 of these SUVs due to a seatbelt issue where the belts could tighten up and hold people even if there was no crash. NHTSA received comp ...

The National Highway Traffic Safety Administration said on Monday it has opened two new investigations into Ford recalls, the latest scrutiny by regulators of the No. 2 US automaker.Last week, Ford agreed to a $165 million civil penalty after an NHTSA investigation found the automaker failed to recall vehicles with defective rearview cameras in a timely manner.On Monday, the auto safety regulator opened an investigation into whether Ford should recall 112,000 Ford Expedition SUVs over seat belt issues and a ...

The National Highway Traffic Safety Administration said Thursday Ford Motor has agreed to a $165 million civil penalty after a government investigation found the automaker failed to recall vehicles with defective rearview cameras in a timely manner.Under a consent order that will last at least three years, the No. 2 US automaker must pay $65 million in cash, spend $45 million on advanced data analytics, a new testing facility and other projects and $55 million will be held in abeyance subject to complying w ...

The National Highway Traffic Safety Administration (NHTSA) imposed a $165 million civil penalty on Ford as part of a consent decree, after determining the automaker failed to recall vehicles with defective rearview cameras in a timely manner. The penalty, which is the second-highest ever issued by the agency in its 54-year history, involves an upfront payment of $65 million, with an additional $55 million deferred and $45 million for performance obligations, NHTSA said. Ticker Security Last Change Change % ...