The US automaker, Ford Motor Co plans to discontinue some of its models as part of a planned operational restructuring, and focus on sports vehicles.
US automaker Ford Motor Co plans to end production of three of its models as part of a planned operational restructuring announced this year, British newspaper The Times reported.
The British newspaper quoted sources as saying that Ford plans not to produce more Mondeo, Galaxy and S-Max models and focus on sport utility vehicles, a more lucrative segment.
The company also plans to reduce its number of dealers, The Times said.
In July, Ford’s chief executive, Jim Hackett, said the company planned to spend about $ 11 billion on a restructuring of its business in Europe.
Ford lost 73 million dollars in Europe between April and June and faces additional challenges due to Britain’s exit from the European Union, the paper reported.
Analysts at Morgan Stanley said Ford could lay off up to 12% of its more than 200,000 workers and dismissals would be concentrated mostly in its European operations.
The Times reported that internal deliberations on the company’s restructuring could go on for several months and could even result in merging its European businesses into a joint venture with a rival firm.