DETROIT, MI (AP)-- 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 percent in the first six months of this year.
Ford shares fell 2 percent, or 23 cents, to close at $10.09.
