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Ford Motor Co.

Ford looks to shed hundreds of managers in Europe

Ford Motor Co. is looking to cut hundreds of managerial jobs in Europe and phase out less profitable models as it seeks to improve slender profit margins there.

The company said in a statement Wednesday that it was offering a "voluntary separation program" aimed at cutting administrative expenses and to save an additional $200 million annually.

The job cutbacks will hit Ford's roughly 10,000 managers, mostly in Germany and Britain. The company says the numbers depend on how many people accept separation offers, but that several hundred are expected to.

Ford said it will also introduce new vehicles to Europe this year such as the Edge SUV and the Focus RS,...