Ford to cut about 20% of Europe workforce in bid to boost margin

Ford will cut about 12,000 jobs — roughly 20 percent of its European workforce — in a sweeping overhaul that will involve reducing its manufacturing footprint in the region to 18 facilities by the end of 2020 from 24 at the beginning of this year. Ford is making the changes to lift the division’s profit margin to 6 percent in the long term.