Ford Makes Big Cuts In Europe

October 25, 2012 10:14 AM

Ford Makes Big Cuts In Europe
" DEARBORN, MI (WWJ) – Ford, which expects to lose a billion dollars in Europe this year, says it’s shutting its assembly plant in Genk, Belgium. The plant employs 4,300 people directly and has as many as 5,000 subcontractors.

“The proposed restructuring of our European manufacturing operations is a fundamental part of our plan to strengthen Ford’s business in Europe and to return to profitable growth,” said Stephen Odell, chairman and CEO, Ford of Europe.

The closing is expected to be finalized by 2014. Exact details have to be negotiated with Ford’s unions in Europe.

“We understand the impact this potential action would have on our work force in Genk, their families, our suppliers and the local communities,” said Odell "

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