Ford plans to cut another 4,000 jobs in Europe by the end of 2027 as part of its restructuring. The company blamed the “weak economic situation” and “lower-than-expected” demand for electric cars.

Ford said it would cut around 14% of its European workforce on Wednesday, blaming losses in recent years due to weak electric vehicle demand, poor government support for the EV shift and competition from subsidized Chinese rivals.

The EV market is struggling in Europe, where sales of new EVs in Germany dropped nearly 37 percent in July 2024 from the same month a year ago. The German government recently ended its subsidy program for EVs, which had provided up to around €6,000 toward the purchase of new battery-electric and plug-in hybrid cars.

Ford (F) announced additional job cuts in Europe as the company struggles with soft EV demand, intense Chinese competition, and an unfriendly regulatory environment. Read more here.

Ford Motor Co. says it will reduce its workforce by 4,000 in Europe and the U.K. by the end of 2027, citing headwinds from the economy and pressure from increased competition and weaker-than-expected sales of electric cars.

Ford Motor Co. said that the EU's "CO2 regulations" contributed to the decision to cut their European workforce 14% by 2027.

Ford has announced plans to cut 4,000 jobs across its European operations while scaling back production targets for its Explorer and Capri electric vehicles (EVs). The move affects 14 percent of the automaker’s workforce on the continent,