Ford to close Belgian plant
US car giant Ford says it has started consultations on closing its plant at Genk in Belgium with the loss of 4,300 jobs to slash costs.
US car giant Ford says it has started consultations on closing its plant at Genk in Belgium with the loss of 4,300 jobs to slash costs.
Last month, Ford warned of job cuts in Europe in response to weak sales.
Separately, it has been reported by the BBC that Ford was unwilling to confirm nor deny reports that it is to close its plant in Southampton, where it employs 500 people and makes the Transit van.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The company has been looking to lower its labour costs in the European region, where 25% of Ford's sales are earned.
CM
-
Barclays warns of significant rise in social media investment scams
Investment scam victims are losing an average £14k, with 61% of those falling for one over social media. Here's how to spot one and keep your money safe
By Oojal Dhanjal Published
-
Over a thousand savings accounts now offer inflation-busting rates – how long will they stick around?
The rate of UK inflation slowed again in March, boosting the opportunity for savers to earn real returns on cash in the bank. But you will need to act fast to secure the best deals.
By Katie Williams Published