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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
- Spain's Prado loses 885 peices of art
- BBVA expects profit boost from Catalunya Banc purchase
- Spain sets rules for dealing with unaccompanied foreign children
- Catalan Separatists Say Debt Investors Can Help Campaign
- Travel authorities call for responsible tourism in Spain after sex scandal
- Spain's AENA appoints banks for IPO
- Spain sets another record for foreign tourism
- Gibraltar says data proves Spain border queues are deliberate
- BBVA to buy Spain's nationalized Catalunya Banc
- Spain set to double rail accident compensation
- Claiming Unemployment Benefits in Spain
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