Ford Motor Co. says it will cut its workforce by 4,000 in Europe and the UK by the end of 2027.
The company justified the decision with pressure from increased competition and weaker than expected sales of electric cars, AP reports.
Ford said on Wednesday that most of the job cuts will be made in Germany and will be carried out in consultation with employee representatives.
Of the company's total workforce, 2,900 jobs will be cut in Germany, 800 in Britain and 300 in other European Union countries. Ford has 28,000 employees in Europe and 174,000 worldwide.
"The global automotive industry continues to be in a period of significant disruption as it transitions to electrified mobility," the company said in a statement.
In Europe, carmakers must sell enough electric vehicles to meet new, lower limits for average carbon dioxide emissions, and meet a long-term EU target by 2035 to cut emissions to zero, which would mean the elimination of most vehicles with internal combustion engines.
However, sales of electric vehicles have stalled partly because inflation-weary consumers have curbed spending.
The company has also announced that it will reduce working hours for workers at its factory in Cologne, Germany, where it makes the Capri and Explorer electric vehicles.
