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Ford Pays a High Price for Plant Closing in Belgium

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Closing the plant at Genk in Belgium cost Ford an estimated $750 million and years of difficulty with workers and the community. The plant employs 4300 workers and the cost comes to about $190,000 per worker. Many auto plants in Europe are operating at about 60% of capacity in 2013, and about 7-8 million units of car and light truck capacity remains idle, by some estimates. Ford was compelled to take this action because of billions of dollars of losses for Ford Europe as sales declined because of the eurozone financial crisis and austerity measures.

Ford and the closing of the Genk automobile plant in Belgium at a cost of $750 million

11/05/2013

The closing of the Ford automobile plant in Germany comes after a long period of difficulties with the workers and the community. Ford ends up paying about $750 million to close the plant, about $190,000 per worker.

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