Photo: OLIVER BERG/Agence France-Presse/Getty Images
Ford’s announcement that they would be closing down the Genk factory, in Belgium, which would lead to the loss of some 4,300 jobs did not go unnoticed. Angry workers gathered outside Ford’s European headquarters, in Cologne, Germany to voice their disapproval of the news.
However, the did not simply wave banners around and shout, opting instead to burn tires and break windows, to really get the attention they craved. Reports indicate that about 100 of the protesters were taken into custody by the police, after three officers were injured in the altercations.
Aside from the 4,300 jobs in Belgium, they will do more ‘restructuring’ of their entire European operations, and the total number of employees which will be sent home is 6,200, equal to 13% of their entire workforce, and since the situation on the Old Continent was described as ‘very volatile’ by the CEO of Ford, Alan Mullaly, we don’t see things taking a turn for the better any time soon.
With the cutbacks, Ford estimates that it will save $500-million annually, and they hope to get back on the profit train, by 2015 - this year, they posted losses of $468-million in the third quarter alone, and the number is expected to total about $3-billion, by the end of 2013.
Story via The Detroit Free Press
Aside from the 4,300 jobs in Belgium, they will do more ‘restructuring’ of their entire European operations, and the total number of employees which will be sent home is 6,200, equal to 13% of their entire workforce, and since the situation on the Old Continent was described as ‘very volatile’ by the CEO of Ford, Alan Mullaly, we don’t see things taking a turn for the better any time soon.
With the cutbacks, Ford estimates that it will save $500-million annually, and they hope to get back on the profit train, by 2015 - this year, they posted losses of $468-million in the third quarter alone, and the number is expected to total about $3-billion, by the end of 2013.
Story via The Detroit Free Press
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