AutomobileBusinessFeatureTop News

US car company Ford to cut jobs to strengthen European business

Ford Motor, Volkswagen, Maruti Suzuki, Jobs, Commercial vehicles, European business, US car maker, Business news, Car and bike news, Automobile newsPhoto related to news of US car company Ford to cut jobs to strengthen European business.

Madrid: Ford Motor Co said on Thursday that it plans to cut jobs across all functions in a wider restructuring effort to improve profitability of its business in Europe, which could also include a potential alliance with Volkswagen AG on commercial vehicles.

 

Ford Motor, Volkswagen, Maruti Suzuki, Jobs, Commercial vehicles, European business, US car maker, Business news, Car and bike news, Automobile news

 

The US car maker said it was starting consultations with union partners and stakeholders to create a “sustainably profitable business” in Europe. It aims to achieve the job cuts through voluntary exits in Europe as far as possible, reports Efe news.

 

Ford Motor planning to cut jobs through voluntary exits in Europe:

 

In the near term, Ford said it plans to reduce structural costs and adjust its product portfolio to improve financial performance.

 

Ford Motor, Volkswagen, Maruti Suzuki, Jobs, Commercial vehicles, European business, US car maker, Business news, Car and bike news, Automobile news

 

“In parallel, the fundamental redesign will include changes to Ford’s vehicle portfolio, expanding offerings and volumes in its most profitable growth vehicle segments, while improving or exiting less profitable vehicle lines and addressing under-performing markets,” the company said.

On other hand Maruti Suzuki hikes prices of select models

Automobile major Maruti Suzuki India on Thursday hiked prices of select models owing to increase in commodity prices and foreign exchange rates etc, the company said.

 

Ford Motor, Volkswagen, Maruti Suzuki, Jobs, Commercial vehicles, European business, US car maker, Business news, Car and bike news, Automobile news

 

“The price change varies across models and ranges up to Rs 10,000 (Ex-Showroom – Delhi). The new prices are effective from 10th January 2019,” the company said in a statement.