Ford to slash 1,000 jobs at Cologne EV plant amid demand slump – report

Group 1: Ford's Workforce Reduction - Ford is set to reduce its workforce at the Cologne EV production plant by up to 1,000 jobs due to a decline in demand [1] - The company will transition to a "single-shift" system starting January 2026, leading to job losses [1] - Ford has committed to providing voluntary redundancy packages to affected employees at its Cologne EV center [1] Group 2: Broader Restructuring Efforts - The workforce reduction is part of a larger restructuring effort by Ford in Germany, which includes significant job impacts and the planned closure of the Saarlouis facility [2] - Ford inaugurated the Cologne EV Center last year to manufacture a new lineup of EVs for the European market [2] Group 3: Industry Challenges and Cost-Cutting Measures - Bosch is implementing cost-saving measures due to an annual financial gap of about €2.5 billion ($2.93 billion) in its mobility division, attributed to increased competition and subdued sales [3] - Bosch has begun its own restructuring process in Germany, involving job reductions and lowering production expenses to maintain profitability amidst slower adoption of electric and autonomous driving technologies [4] - The automotive sector in Germany is facing broader challenges, with companies like Porsche and Volkswagen adjusting their workforce and production levels to address soft sales in key markets such as China [5]