Ford has agreed a protection plan for 10,000 employees in Cologne, Germany, including voluntary layoffs and job retention until 2032.

Ford has agreed a deal to protect jobs at its plant in Cologne, Germany, in the face of weak demand for electric vehicles. It includes voluntary redundancies and a reduction of 2,900 jobs with attractive compensation packages. The deal, welcomed by the IG Metall union, provides a safety net for employees but the future of production remains uncertain. Ford is investing $2 billion in the plant to transition to electric vehicles and is seeking government support.