On November 20, Ford announced plans to cut another 4,000 jobs in Europe by the end of 2027. Most of them will be in Germany, about 2,900 of the eliminated positions.

The move comes after Ford incurred “significant losses” in recent years amid a “highly disruptive” influx of new competition, mainly electric models. Ford blames slower-than-expected demand for its EVs and a weakening economic situation for the downsizing.