Ford to cut thousands of jobs in Europe as part of recovery plan.

Ford factory in Aquitaine, a French region near Bordeaux.

With 53 thousand employees, the assembly company took a loss of 245 million euros in Europe.

This Thursday (10), Ford said that it would be cutting thousands of jobs, abandon unprofitable markets and discontinue less popular vehicle lines, as part of a recovery plan focused on achieving a 6% operating profit margin in Europe.

The carmaker said it will abandon the multivans segment, stop manufacturing automatic transmissions in Bordeaux in August, review its operations in Russia and combine Ford's UK headquarters with Ford Credit headquarters.

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