Ford Motor Co. announced it will reduce production capacity in Europe by 18 percent, or 355,000 vehicles, and cut 6200 workers to bring back corporate profits.
As reported Autonews, Saturday, October 27, 2012, the U.S. automaker's efforts to restructure by closing three manufacturing facilities in Europe this would save the annual cost of U.S. $ 450 million to U.S. $ 500 million.
Ford's business in Europe continues to lose money during the crisis. Losses estimated to reach U.S. $ 1.5 billion during 2012, up from an initial estimate that only U.S. $ 1 billion.
In a statement, Ford plans to close two facilities in the UK next year. The assembly plant in Southampton, which makes the model minibus, and a stamping plant in Dagenham. Closing the two factories will terminate 1,400 workers.
Ford also announced it would end production at its assembly plant in Genk, Belgium, at the end of 2014. This plant closure will cut 4300 workers.
Termination will add a long list of corporate layoffs in the region. Previously, the car manufacturer has laid off 500 salaried workers largely through voluntary programs.
Ford said, despite losses in Europe, the company still posted a profit. Closing the factory just to increase by 6-8 percent operating margin.
Ford's global net profit of U.S. $ 1.04 billion in the second quarter, down from U.S. $ 2.40 billion during the same quarter last year. Ford said it suffered losses of U.S. $ 400 million in Europe during the second quarter. viva
As reported Autonews, Saturday, October 27, 2012, the U.S. automaker's efforts to restructure by closing three manufacturing facilities in Europe this would save the annual cost of U.S. $ 450 million to U.S. $ 500 million.
Ford's business in Europe continues to lose money during the crisis. Losses estimated to reach U.S. $ 1.5 billion during 2012, up from an initial estimate that only U.S. $ 1 billion.
In a statement, Ford plans to close two facilities in the UK next year. The assembly plant in Southampton, which makes the model minibus, and a stamping plant in Dagenham. Closing the two factories will terminate 1,400 workers.
Ford also announced it would end production at its assembly plant in Genk, Belgium, at the end of 2014. This plant closure will cut 4300 workers.
Termination will add a long list of corporate layoffs in the region. Previously, the car manufacturer has laid off 500 salaried workers largely through voluntary programs.
Ford said, despite losses in Europe, the company still posted a profit. Closing the factory just to increase by 6-8 percent operating margin.
Ford's global net profit of U.S. $ 1.04 billion in the second quarter, down from U.S. $ 2.40 billion during the same quarter last year. Ford said it suffered losses of U.S. $ 400 million in Europe during the second quarter. viva
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