Ford outlined plans to lay off 4,000 employees in the U.K. and Germany in response to a series of losses it blamed on unprecedented competitive, regulatory and economic headwinds in Europe’s car market.

Ford Motor Co. on Wednesday said it's reassigning about 400 workers to other southeast Michigan plants for reduced production at its Bronco plant in Wayne and is reducing its workforce by 4,000 in Europe by the end of 2027.

The American automaker said the cost-cutting measure would help it compete with Chinese rivals in the face of slowing demand for electric vehicles.