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Market Chatter: Germany's IG Metall Union Criticizes Ford's Job Cut Plans in Cologne
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Market Chatter: Germany's IG Metall Union Criticizes Ford's Job Cut Plans in Cologne
Nov 27, 2024 6:07 AM

08:45 AM EST, 11/27/2024 (MT Newswires) -- Germany's IG Metall union criticized Ford's (F) plans to cut thousands of jobs, warning it could lead to an "incremental death" of the automaker's Cologne plant, Reuters reported Wednesday.

The report said that the union representatives pledged to support workers' protests against the restructuring.

The automaker said last week that it plans to trim its European workforce by 4,000 positions by the end of 2027, primarily in Germany and the UK, as part of cost-cutting measures.

Ford did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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