Image: Ford Image: Ford

Ford has said it will cut jobs in Europe as part of plans to save around $200 million (£138m) a year.

The US automotive giant will launch a voluntary redundancy programme and said it will aim to improve the efficiency of its manufacturing processes.

The news of jobs and cost-cutting comes despite Ford reporting a record $10.8 billion profit for 2015, with its European operation returning to profit for the first time in four years.

Ford Europe executive vice-president Jim Farley, said: "We are absolutely committed to accelerating our transformation, taking the necessary actions to create a vibrant business that is solidly profitable in both good times and down cycles."

The car manufacturer said it would also increase focus on its most profitable models, like its SUVs.