Ford to Cut 1,100 Jobs in Spain - Spokesperson

Reuters2023-03-10

U.S. auto maker Ford plans to slash 1,100 jobs at its plant located in Valencia in eastern Spain, a company spokesperson said on Friday.

The layoffs, which were shared with unions, are part of the company's changes to its car production lineup in Europe, the spokesperson said.

"Ford will work constructively with its union partners to reduce the impact of the separations on employees, their families, and the local community," she said.

The company has decided to stop assembling Galaxy minivans and S-Max station wagon-like cars in Valencia.

Last year, Ford had said it was delaying production investments in Spain, citing a "revised outlook for Europe", but said it would stick with a plan to start producing electric vehicles later this decade at its Spanish factory.

The electric vehicle production plan would entail job cuts, Ford had said when unveiling the project.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

Leave a comment
2