London (CNN Business) Ford is cutting thousands of jobs, ending production of some models and closing a plant in Europe ahead of a possible alliance with market leader Volkswagen. The US carmaker announced the changes on Thursday, framing the restructuring as part of a global overhaul that the company has said will cost $11 billion. Ford ( F ) said it would end production of some unprofitable models and shift its strategy in difficult regional markets including Russia. The carmaker said it would proceed with plans to close a transmissions plant in France, and it has started negotiations with unions about halting production of the C-Max compact car at a factory in Germany. "We are taking decisive action to transform the Ford business in Europe," Steven Armstrong, Ford's president for Europe, Middle East and Africa, said in a statement.

Source: CNN January 10, 2019 12:34 UTC