Ford intends to cut 12,000 jobs in Europe by the end of 2020 as part of a broader plan to reduce costs, reports Reuters.
The big picture per Axios' Joann Muller: Brexit and stiff new emissions rules set to take effect in the near term have made the European auto market difficult for carmakers. Ford's cuts are long overdue, but a new alliance with Volkswagen will allow the company to focus on its strengths: SUVs and commercial vehicles.