Ford restructuring to cost 12,000 jobs in Europe
By DAVID McHUGH, AP Business Writer FRANKFURT, Germany (AP) — Carmaker Ford said Thursday it is shedding 12,000 jobs in Europe to increase profitability, part of a global trend of cost cuts by automakers facing shifting consumer tastes and heavy investments in electric cars. The job losses amount to about a fifth of Ford's work force in Europe and are part of a broad restructuring that includes the