COLOGNE, May 14 (Reuters) - Workers at Ford's F.N two car plants in the German city of Cologne went on strike on Wednesday, protesting thousands of planned job cuts across the U.S. automaker's European operations.

The cuts at Ford reflect a broader shake-up in the car sector as companies like Volkswagen VOWG.DE, Nissan 7201.T and General Motors GM.N axe jobs in response to new competition from China, weak demand and the costly transition to electrification.

Striking workers gathered in front of one of the Cologne plants, holding aloft a red banner with the slogan "Fight for every job."

"The strike today costs a couple of million euros in losses," works' council head Benjamin Grushka said from the edge of the picket line, referring to the halt in production as a result of the 24-hour walkout.

"So it hurts. I would be surprised if the Ford plants don't invite us for further talks tomorrow over the course of the day."

On the possibility of further industrial action, Grushka said, "If the employer doesn't make a move, we are ready to strike."

The company is yet to comment on the strike and did not immediately respond to an emailed request for comment from Reuters on Wednesday.

Ford workers voted last week to strike, after the company said in November it would cut around 14% of its European workforce, with Germany particularly hard hit.

Labour representatives have insisted that management find alternative measures to restructure the business.

(Reporting by Petra Wischgoll in Cologne, writing by Rachel More, editing by Thomas Seythal)

((rachel.more@thomsonreuters.com;))