Ford Germany Considers More Job Cuts | Business| Economy and finance news from a German perspective | DW | 11.09.2003
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Ford Germany Considers More Job Cuts

Ford-Werke, the German division of U.S. auto giant Ford, expects to miss its earnings targets again this year and in response is considering shedding more jobs, Ford-Werke chairman Bernhard Mattes said on Thursday. In order to return to profit, "we're going to have to intensify our efforts on the cost side. We're not going to fill vacant positions," Matthes told the Financial Times Deutschland. The German car maker failed to meet its target of returning to profit last year, running up an operating loss of €320 million ($362 million). And it looks likely to meet its sales targets for this year as well.