Ford Cuts Jobs in EU
Ford Motor Co. plans to cut about 3,200 jobs across Europe, as the company shifts towards electric vehicles and reduces costs. A majority of the affected positions are concentrated in Germany and will affect roles in product development and administrative areas, according to the IG Metall union. Development activities in Germany are set to be relocated to the US. This follows the elimination of 3,000 jobs primarily in the US in the second half of last year. Ford CEO Jim Farley is targeting $3 billion in cuts to help boost profits from traditional internal combustion engine models and finance the $50 billion investment in developing electric vehicles. This is part of Ford’s plan to go almost completely electric in Europe by the end of the decade.
Ford’s Stock Analysis and Forecast
Ford Motor Company is currently facing a mixed outlook from analysts, with a average target price of USD 15.50 over the next 12 months. This is based on the stock forecasts from 12 analysts, and the average analyst rating for Ford Motor Company is “Buy”.
According to Stock Target Advisor, Ford Motor Company’s own stock analysis is “Slightly Bullish”, which is based on 9 positive signals and 4 negative signals.
Currently, at the last closing, Ford Motor Company’s stock price was USD 12.40. Over the past week, Ford Motor Company’s stock price has changed by -2.52%, which means that the stock price has decreased by that percentage. However, over the past month, the stock price has increased by 9.64%, and over the last year it has decreased by 39.95%. This shows that Ford Motor Company’s stock price has been fluctuating in the short-term, and has seen a decline in the long-term.
The Fundamental analysis score of the stock is “Slightly Bullish” with a direct score of 6.9 out of 10, where 0 is considered very bearish and 10 very bullish.
