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Ford hopes to cut several hundred salaried workers in Europe through buyouts

Published on September 25, 2012; Published on September 25, 2012

Topics :: Europe , DETROIT , Germany

DETROIT - Ford plans to cut several hundred workers in Europe as part of a larger restructuring in the money-losing region.

The company says it is offering voluntary buyouts to salaried workers in Germany, the U.K. and the rest of Europe.

It's also cutting temporary salaried positions and some outsourced services.

Ford is studying other measures — including plant closures — in an effort to stem its losses.

Ford lost $404 million in Europe in the second quarter and expects to lose $1 billion there this year.

The region's economic crisis has hurt car sales, which dropped nearly 7 per cent in the first six months of this year.

Ford shares fell 2 per cent, or 23 cents, to close at $10.09.

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