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Ford Motor Co. (F.N) reported a decline in fourth-quarter operating profit Wednesday as it recorded losses in all parts of the world outside North America, dragging down overall performance.
Ford, the second largest automobile manufacturer in the United States, is restructuring its business worldwide. The company is reducing its size in Europe, considering restructuring its business in South America and transforming its business in China. Ford is not profitable in all three regions.
"It's been a bad year and it's still the fourth quarter," Bob Shanks, the company's chief financial officer, told reporters at the company's headquarters. He acknowledged that there may be strikes and other emergencies in areas where business restructuring is taking place this year.
He reiterated Ford's leading position in the UK market, which would be widely affected by the UK's exit from Europe.
Ford said on Jan. 10 that it would cut thousands of jobs and consider closing factories in Europe to help realize its plan to turn losses into profits in the region.

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