Ford sheds thousands of jobs in Europe
London (CNN Business)Ford is cutting thousands of jobs, ending production of some models and closing a plant in Europe ahead of a possible alliance with market leader Volkswagen.
The US carmaker announced the changes on Thursday, framing the restructuring as part of a global overhaul that the company has said will cost $11 billion.
Ford (F) said it would end production of some unprofitable models and shift its strategy in difficult regional markets including Russia.
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