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News | Business

Ford Motor Co. Plans Closure of Overseas Factory

The company will pay $750 million to hourly employees in order to close a Belgian plant in 2014.

Posted by Daniel Lai (Editor), 
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The Ford Motor Company will close its overseas factory in Belgium next year, citing overproduction and low sales in Europe.

According to the Associated Press, the Dearborn-based manufacturer revealed Tuesday that it will will pay $750 million in separation benefits to hourly workers at its factory in Genk, Belgium.

Ford said the closure will result in the loss of about 4,300 jobs by the end of 2014. Production will be transfered to the company's plant in Valencia.

To read the complete story, visit www.reuters.com.

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Robert Hennecke March 20, 2013 at 10:31 pm
I would have made a deal with them. If they created an assembly guild, they can have the building but not the tooling and they would get 250 million to split amongst themselves and get the right to bid on Ford and any other assembly work for any automaker. The thing could be run as a worker owned auto assembly guild co op. It sure beats spending forever doing nothing.
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laplateau June 10, 2013 at 03:49 pm
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