Japan Targets 1%+ Real Economic Growth With ¥370 Trillion Investment Plan 
Morgan Stanley Raises Tesla Q2 Delivery Forecast on Strong Europe and China Demand 
US Stock Futures Rise as US-Iran Ceasefire Hopes Boost Market Sentiment 
Asian Stocks Sink as Apple Price Hikes Spark AI Valuation Fears, South Korea and Japan Lead Selloff 
SK Hynix Targets $29.4 Billion Nasdaq Listing to Expand AI Chip Business 
Gold Prices Fall Below $4,000 as Strong Dollar, Fed Rate Hike Bets Weigh on Bullion 
Gold Price Ends Lower for Fourth Week Despite Rebound as Fed Rate Hike Bets Strengthen 
Economic pessimism has set in – but there are reasons for Australians to be hopeful 
Apple Supplier Stocks Slide as Samsung, SK Hynix Lead Selloff After Apple Price Hikes 
Trip.com Shares Tumble After Q1 Profit Drops and Weak Revenue Growth Outlook 
Lenovo Shares Slide as AI-Driven Memory Demand Signals Higher DRAM and NAND Prices 
Asian Currencies Stay Range-Bound as Investors Eye China Data, RBNZ Outlook and U.S.-Iran Ceasefire 
China Sets 1.25% Overnight Reverse Repo Rate Below Market Expectations 
Trump Threatens 100% Tariffs on Countries Imposing Digital Services Taxes on U.S. Tech Firms 
OpenAI May Delay IPO to 2027 Amid $1 Trillion Valuation Goal 
Asian Stocks Slip as US-Iran Ceasefire Hopes Lift Oil, Dollar Strength Persists 
Ford Motor said on Tuesday, Feb. 14, that it has plans of laying off 3,800 workers in Europe. The company said that the job cuts will take place over the next three years.
Ford Motor said that this decision was made in connection with its transition to electric vehicle production. It added that this is also a move to adopt a “leaner” structure so it can focus on building EV units.
The Dearborn, Michigan headquartered automaker further explained that 2,300 jobs are affected in its production and development administration facility in Germany while 1,300 are based in the United Kingdom. The remaining 200 are other workers who are stationed elsewhere in Europe.
According to CNBC, most of the employees who will lose their jobs hold engineering roles and are involved in vehicle design and development. All in all, Ford Motor said it employs around 34,000 workers in Europe so the 3,800 is a small percentage.
At any rate, the company said that this revamp will not have an effect on its goal of developing and selling all-electric vehicle units by the year 2035. It is expecting the production of its first European-built EV to begin in the second half of this year.
“These are difficult decisions, not taken lightly. We recognize the uncertainty it creates for our team, and I assure them we will be offering them our full support in the months ahead,” Ford Model e’s general manager in Europe, Martin Sander, said in a statement.
He went on to say, “Paving the way to a sustainably profitable future for Ford in Europe requires broad-based actions and changes in the way we develop, build, and sell Ford vehicles. This will impact the organizational structure, talent, and skills we will need in the future.”
Photo by: Shantanu Goyal/Unsplash
