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Ford to axe 4'000 employees in Spain
American Auto-Manufacturing giant, Ford Motor Co., looks set to make around 4,000 workers at its plant in Valencia, Spain, redundant due to falling sales.
Redundancies are are expected to become effective January and October 2012, according to reports.
Sales have already plummeted by over one million cars in Europe this year alone, said the report, indicating that auto production in Spain for 2012 is expected to fall to 152,000 cars, 60,000 lower than this year's figure.
In June of this year Ford had promised to invest 812 million Euro in its plant in Almussafes, Valencia to improve efficiency in production for the next two years.
Latest News & Stories
- 30 arrests in Spain for pay-TV piracy
- Spain's centre-right PP to strengthen position in election - poll
- Popular Party faces freeze on assets if it fails to pay €1.2m civil bond
- Spain trade deficit falls 10.6% in March y/y
- Security fears hit Thomas Cook as tourists choose Spain over Turkey
- Ryanair offers €20 flights to UK to vote against Brexit
- Spain's MasMovil unveils internet-only plans
- Vodafone Spain targeting 9 mln fibre homes in 3-4 months
- Spain's public debt rises 14 billion euros in March
- Spain’s public debt over 100% of GDP for first time in more than a century
- Claiming Unemployment Benefits in Spain
- Employee rights & working conditions in Spain
- Employing Staff in Spain