Why Ford is restructuring in Europe — again

Ford Motor is slashing jobs, killing vehicles and mulling factory closures in Europe.

Sound familiar? That’s because the company did that in 2016. It did it in 2012, too.

Now, for the third time this decade, Ford is restructuring its money-losing operations in that region. On Thursday, it announced plans to ax thousands of jobs, kill the C-Max and Grand C-Max, end production at a plant in Bordeaux, France, and consolidate its U.K. headquarters. Ford also is reviewing a joint venture in Russia after years of vowing to weather the tough times in the hopes of profitable days ahead.

It’s all part of a broader overhaul of its global business under CEO Jim Hackett to create a more “fit” company that maximizes profits.

The Europe issue is a problem Hackett’s two predecessors failed to solve.