Ford (F) to cut 1,100 jobs in Spain
By Michael Elkins
Reuters reports Friday, citing a company spokesperson, that Ford Motor Company (NYSE:F) plans to slash 1,100 jobs at its plant located in Valencia in eastern Spain.
The company has decided to stop assembling Galaxy minivans and S-Max station wagon-like cars in Valencia.
News of the layoffs has been shared with unions and is part of the company’s changes to its car production lineup in Europe, the spokesperson said.
“Ford will work constructively with its union partners to reduce the impact of the separations on employees, their families, and the local community,” she said.
Last year, Ford had said it was delaying production investments in Spain, citing a “revised outlook for Europe,” but said it would stick with a plan to start producing electric vehicles later this decade at its Spanish factory.
The electric vehicle production plan would entail job cuts, Ford had said when unveiling the project.
Shares of F are down 2.2% in morning trading on Friday.