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Ford to Pay $750 Million to Workers at Belgium Plant

Ford Motor Company has reached an agreement with its hourly workers in Genk that allows the automaker to go through with its plan to close the factory located in Belgium.
Ford factory in Belgium 1 photo
However, shutting down the facility which now builds the Mondeo sedan and the S-Max and Galaxy minivans will cost the Blue Oval no less than $750 million (€581 million) in severance to its 4,000 hourly workers.

While an agreement between Ford and its hourly workers has been reached last week, negotiating over severance pay between the manufacturer and the factory's 300 salaried employees are still under way.

On a side note, Ford will be paying an average per-worker severance of $187,500 (€145,247), less than what General Motors spent to close its Antwerp-based plant three years ago. With $527 million (€408 million) paid to the factory's 2,600 workers, the Detroit automaker averaged $202,700 (€157,022) per worker.

To be completely shut down in 2014, the Genk plant was opened back in the early 1960s. The first mainstream Ford automobile built in Belgium was the Taunus P4

Story via Automotive News

 
 
 
 
 

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