Workers at two of Ford’s (F) car plants in the German city of Cologne have gone on strike, protesting the thousands of planned job cuts across the automaker’s European operations, Reuters reports. The cuts at Ford reflect a broader shake-up in the car sector due to new competition from China, weak demand, and the costly transition to electrification.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks straight to you inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on F:
- Ford recalling over 273,000 Navigator, Expedition vehicles
- “This Will Include Some Separations”: Ford Stock (NYSE:F) Notches Up on 350 Job Cuts
- “Groundbreaking” New Battery Technology Sends General Motors Stock (NYSE:GM) Up
- Ford slashes 350 connected-vehicle software positions, Automotive News says
- Ford Motor Appoints New Chief Accounting Officer