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Ford to lay off 12,000 in Europe

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Ford Motor Co. plans to lay off as many as 12,000 people in Europe.

Ford officials said the layoffs would be conducted "primarily through voluntary separation."

The layoffs are part of plans to overhaul the company's European business.

“Ford will be a more targeted business in Europe, consistent with the company’s global redesign,” said European President Stuart Rowley.

Read more from Fox Business.

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