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.

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

Ford Motor Co. will look to eliminate another 4,000 positions in Europe, further retrenching within a region where the transition to electric vehicles is losing traction industrywide.