Ford, the big name in the industry of car manufacturing has recently declared that they are closing down five manufacturing plants and selling one plant in Europe and by that decision they are all set to announce 12,000 staffs all over Europe.
The giant car manufacturing company is having 65,000 staffs in Europe and they are all set to decrease make it shorten by 20%. The company in a press conference declared that they are finding a huge loss in Europe and they are planning to reduce their cost on and from 2013. They also stated that they take the decision of cutting short staffs at the end when they have no other options left. Hence, they have taken so much time to stick to the decision of eliminating so many workers, which they have proposed since 2013.
According to the coverage, they have provided to the news agency, they are soon going to close 3 factory units in Russia, one in France and the other in Britain. Additional to that, they are also going to sell off one production hub of Slovakia. The total stoppage and cessation of the production in Europe are going to make 12,000 staffs as jobless. Now, they have the plan to give VRS to those staffs and move that sector out to Middle East Asia.
China is the nation that is grabbing the attention of the car buyers, with their electrical engines and hence reducing the consumption of fuel. The global environment-friendly approach of China is making the mark with their better performance and that is pushing hard the best names in the car manufacturing sector. In competition with that, Ford is moving out slowly their business to other places of Middle East Asia. The BREXIT dilemma has already threatened the European market. Now, this decision of Ford is really pushing back the EU economy for the time being.