The car manufacturer Ford Germany receives a strong financial injection from his parent company. Up to 4.4 billion euros should help reduce debts. These were the last 5.8 billion euros.
However, a so -driven patronage statement of 2006 loses its validity due to the capital contribution. “The explanation of patronage was something unusual that no other Ford daughter had. The elimination of the patronage statement is a step back to normal and by no means an expression of a lack of Ford involvement in Europe: the several hundred million euros for the new business plan show that the American head office continues to believe in success in Germany and Europe, “said Ford Germany Boss Marcusberg.
In detail, the parent company not only provides the financial injection for reimbursement of the debt, but also several hundred million euros to stimulate matters in the next four years. To be successful in Europe in the long term, the group must simplify its structures, lower costs and increase efficiency, said Ford Vice President John Lawler.
4000 jobs are disappearing
Ford announced last November that by the end of 2027 about 4,000 jobs should be lost in Europe, 2900 of them in Germany and 800 in the UK. The car manufacturer justified this with a weak demand, high costs due to the switch to e-mobility, bitter competition and regulations. Management appealed to political managers to support the transformation to electromobility.
Ford Germany has long been in the red figures, the savings program was announced at the end of 2023. Ford Germany currently still has around 16,000 employees, most of them in Cologne.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
