Ford ( F) says it will make additional cuts to European production.

Most notably, on May 1 the automaker will moving from three shifts to two at its Valencia plant in Spain.

"Cutting capacity, reducing costs and safeguarding our future product plans are essential actions for Ford of Europe to sustain a viable business for the future," said John Fleming, CEO of Ford Europe, in a prepared statement. "We have already taken a number of actions but, as the market has continued to weaken substantially, we are now taking additional necessary actions."

Fleming said Ford is also realigning not only current production requirements but also future sourcing plans, as the company anticipates that significant near-term improvements in European demand are unlikely.

The company reaffirmed its commitment to manufacturing in Germany, Spain and Romania but said it is continuing to review capacity utilization and manpower needs across Europe. It said its Saarlouis plant in Germany will continue on its current downtime plan.

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