United States

Ford is shedding thousands of jobs in Europe

London (CNN Business)Ford is cutting thousands of jobs, ending production of some models and closing a plant in Europe ahead of a possible alliance with market leader Volkswagen.The US carmaker announced the changes on Thursday, framing the restructuring as part of a global overhaul that the company has said will cost $11 billion. Ford (F) said it would end production of some unprofitable models and shift its strategy in difficult regional markets including Russia. The carmaker said it would proceed with plans to close a transmissions plant in France, and it has started negotiations with unions about halting production of the C-Max compact car at a factory in Germany. "We are taking decisive action to transform the Ford business in Europe," ...