Ticker: Ford slashing 4,000 jobs in Europe; Campbell’s drops the soup (in name only)

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 said most of the job cuts would come in Germany and would be carried out in consultation with employee representatives.

Of the total, 2,900 jobs would be lost in Germany, 800 in Britain and 300 in other European Union countries. Ford has 28,000 employees in Europe, and 174,000 worldwide.

“The global auto industry continues to be in a period of significant disruption as it shifts to electrified mobility,” the company said in a statement Wednesday. “The transformation is particularly intense in Europe where automakers face significant competitive and economic headwinds while also tackling a misalignment between CO2 regulations and consumer demand for electrified vehicles,” the statement said.

Campbell’s drops the soup (in name only)

Campbell’s is ditching the soup — at least in name. And the change has now received shareholders’ greenlight.

Campbell Soup Co. announced its intention to change its name just over two months ago, saying it wanted to instead be known as the (slightly shorter) Campbell’s Co. Shareholders overwhelmingly approved the change on Tuesday.

In a statement, CEO Mark Clouse maintained that this “subtle yet important change” will retain the company’s iconic name “while reflecting the full breadth of our portfolio.”

New Jersey-based Campbell’s hasn’t been exclusive to the soup business for some time. The company also owns brands like Prego sauce and Goldfish crackers — and completed a $2.7 billion acquisition of Sovos Brands, the maker of Rao’s pasta sauces, earlier this year.