Ford Motor Co. says it will reduce its workforce by 4,000 in Europe and the U.K. by the end of 2027, citing headwinds from the economy and pressure from increased competition and weaker-than-expected sales of electric cars.

Ford plans to cut 4,000 jobs in plants across Europe by the end of 2027 to reduce costs, including 2,900 jobs in Germany and 800 in the United Kingdom, the US carmaker said on Wednesday. Most of the reductions will take place at a Ford factory in Cologne,