AutoBeta(AutoBeta.net)03/16 Report--

In October last year, Ford announced a global restructuring plan that would lead to massive layoffs worldwide, with 35% of its employees laid off. Earlier, the New York Times reported that Ford's Chinese joint venture had begun to lay off thousands of workers, and now Ford has begun major layoffs in the European market.

Ford is cutting 5000 jobs in Germany and will cut more jobs in the UK as part of efforts to reduce costs in Europe, Ford said on Friday. Ford will provide voluntary separation services for employees in Germany and the UK to advance layoffs and improve performance. Ford employs about 53000 people in Europe, of which about 24000 are in Germany.

This is part of Ford's previously proposed global restructuring, which plans to spend $11 billion over the next three to five years to reshape its European operations into three different business groups. focus on commercial vehicles, passenger vehicles and imported vehicles. The move is also part of Ford's plan to cut costs and improve efficiency to reverse the company's decline and be more flexible in responding to competitive pressures.

Ford formally formed an alliance with Volkswagen in January to cooperate on commercial and pickup models and to explore cooperation in self-driving and electric vehicles as well as mobile services.

While cutting jobs in Europe, Ford is increasing its investment in the United States. Ford said Thursday it is investing $1 billion to expand its Chicago-area plant to expand production of Ford Explorer and Lincoln Aviator SUV. The investment will add 500 jobs to Ford's assembly and stamping plants in the Chicago area, bringing the total number of employees at the two plants to 5800. In addition, Ford spent 40 million dollars upgrading its employees' facilities, including new LED lighting and cafeteria renovations, new sitting areas and parking upgrading.

Ford sold 5.734 million vehicles worldwide in 2018, down 8.9% from a year earlier, of which Ford sold 752000 vehicles in China in 2018, down 36.9% from 2017. Changan Ford's full-year sales fell 50 per cent to 417215, while Jiangling's sales fell 9.9 per cent to 263582 in 2018. In addition, Ford brand imported cars sold 16131 vehicles in China in 2018, down 14.3 per cent from 2017.

In terms of revenue, Ford's revenue in 2018 was $160.338 billion, up 2.3% from a year earlier, and its net profit was $3.677 billion, down 52.4% from a year earlier, of which Ford lost $1.1 billion in the Asia-Pacific region.

Ford has broken away from the ranks of mainstream joint ventures in China, and in order to change its decline, Ford has upgraded its business in China to an independent business unit, as one of the representatives of traditional automobile manufacturers, the decline of cars around the world is a testament to the reshuffle and transformation of the industry, and Ford is also trying to reverse the unfavorable situation through cost-cutting plans.

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