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Ford Europe and Jaguar Land Rover each cut thousands of jobs

In an effort to return themselves to profitability, Jaguar Land Rover and Ford's European division slash thousands of jobs and contemplate factory closures.

Business Secretary visits Jaguar Land Rover
Jaguar Land Rover will cut over 10 percent of its workforce, while Ford Europe undergoes similar cuts.
Dave Thompson/PA Images/Getty Images

Times are tough in Europe for carmakers, as evidenced by Thursday's Reuters report that both Ford and Jaguar Land Rover are laying off large swaths of employees. Jaguar Land Rover will be releasing a little over 10 percent of its workforce while Ford is keeping its numbers private.

These massive layoffs stem from many contributing factors including the US' trade difficulties with China, China's slowing car market, Brexit, reduced demands for diesel vehicles and stricter emissions requirements.

According to Reuters' report, Jaguar lost £354 million in the span between April and September of 2018, and the looming threat of a no-deal Brexit could cause losses in 2019 to be even worse if operating costs aren't reined in.

Ford Europe currently employs 53,000 people, and while we don't have a specific number that Ford will be laying off, reports put it in the thousands. Ford is also contemplating the closure of several of its European manufacturing facilities in an attempt to move that division's finances from red to black.

Ford's other plans for achieving profitability include consolidating its UK headquarters and the headquarters of its UK Ford Credit arm to one building, ceasing production on family vans and reevaluating its operations in Russia.