Ford is cutting 12,000 jobs at its operations across Europe by the end of 2020, the automaker said Thursday, continuing a broad, global restructuring program that already has cost about 2,300 jobs in the U.S.

The latest move comes as Ford prepares to close or sell off six of its 24 European plants, including an engine plant in Wales, a transmission factory in France and three facilities in Russia. It also plans to cut production and drop shifts at assembly plants in Germany and Spain.

Its stock rose more than 2% in morning trading.

The company's global workforce of 199,000 employees as of Dec. 31, 53,000 of them in Europe, will be notably smaller next year. The European cutbacks were widely expected and follow on other layoffs announced earlier this year. They come as the Detroit-based automaker struggles to reverse years of losses in the U.S. Since Jim Hackett was named CEO two years ago, Ford has launched a number of worldwide cost-savings measures, but company officials say the cuts announced Thursday also reflect a planned shift from conventional, gas and diesel-powered vehicles to electric and other battery-powered cars.

"Ford will be a more targeted business in Europe, consistent with the company's global redesign, generating higher returns through our focus on customer needs and a lean structure," Stuart Rowley, president of Ford of Europe, said in a statement. "Implementing our new strategy quickly enables us to invest and grow our leading commercial vehicle business and provide customers with more electrified vehicles, SUVs, exciting performance derivatives and iconic imported models."

While a large share of the new European job cuts will target hourly employees, Ford last month said it was eliminating 7,000 white-collar jobs, including 2,300 in the United States. At that time, CEO Hackett hinted there would likely be more to follow, noting, "We still have a lot of work to do in the coming months."

That includes more than just job cuts, however. Since being named CEO following a management shake-up in May 2017, Hackett has ordered a number of major changes, among other things dropping all U.S. passenger car models — but for the Mustang. The shift to sport and crossover-utility vehicles has extended to other markets, including Europe and China, though not to quite the same degree.