Auto industry troubles buffet Ford, Jaguar Land Rover

12 January, 2019, 18:57 | Author: Regina Silva
  • Auto industry troubles buffet Ford, Jaguar Land Rover

Ford is also in talks with worker groups over the possibility of eliminating the production of two small minivan models now manufactured in Germany.

Tata Motors Ltd.'s Jaguar Land Rover, formerly part of Ford, plans to cut 4,500 jobs in response to a sales slowdown.

Ford will import a range of iconic new models, boost production of its strongest European-made cars and SUVs and improve or ditch its slowest-selling local lines as part of a comprehensive plan to improve its competitive position and profitability in Europe. Ford posted a loss of €245 million loss before interest and taxes in the third quarter.

"We are taking decisive action to transform the Ford business in Europe", Steven Armstrong, group vice president, Europe, Middle East and Africa, said in a statement on Thursday.

Union Unite said the company plans to cut a total of 1,150 United Kingdom roles, with nearly 1,000 at Bridgend and the rest at its transport operations, which would affect lorry drivers.

He said: "In JLR, market conditions, particularly in China, have deteriorated further". In simpler terms, Ford is looking to cut jobs in Europe.

Ford's been in Europe for more than a century.

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"They gave no indication of any particular threat to Bridgend or any other plant for that matter, but they did say they were rethinking the way Ford were operating in Europe", he added. It lost 354 million pounds between April and September 2018. Foreign exchange rates, a softening auto market, and a fall in diesel vehicle sales have also taken a toll on its earnings in the region.

Jaguar Land Rover has said that 6,000 jobs are gone or going at its British...

Ford is not the first American automaker to have trouble in the European market, with General Motors departing from the region in 2017 and Volkswagen announcing late-2018 that it had entered into a partnership to help Ford keep a foothold in Europe.

Trade unions said they had been told of the initial cuts in South Wales a day after Ford warned of big cuts in its lossmaking European operations.

Armstrong was quoted by the Financial Times as saying the number of layoffs would be in the "thousands" but declined to repeat that quantity in a conference call with reporters, saying only that there would be a "substantial impact" on the workforce.

The cost-cutting plan has not been adjusted to account for the possibility of a "hard" exit by Britain from the European Union without securing tariff-free cross-border trade, Armstrong said.

"Britain's vehicle workers have been caught in the crosshairs of the Government's botched handling of Brexit, mounting economic uncertainty and ministers' demonisation of diesel, which along with the threat of a no-deal Brexit, is damaging consumer confidence". May be there will be plant closures.

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