Ford plans to cut 1,150 jobs in Britain, Unite union says
FILE PHOTO: The Ford booth displays the company logo at the North American International Auto Show in Detroit, Michigan, U.S., January 16, 2018. REUTERS/Jonathan Ernst
Get Alerts F Hot Sheet
Overall Analyst Rating:
NEUTRAL ( Down)
Dividend Yield: 6.2%
Revenue Growth %: +15.1%
Join SI Premium – FREE
LONDON (Reuters) - U.S. carmaker Ford (NYSE: F) plans to cut 1,150 jobs in Britain, the Unite union said on Friday, with nearly 1,000 job losses at its Bridgend engine plant in Wales.
On Thursday, Ford said it will cut thousands of jobs, look at plant closures and discontinue loss-making vehicle lines as part of a turnaround effort, and would start consultations with unions on the plans.
"Unite is fully committed to opposing any compulsory redundancies and campaigning strongly for Bridgend to have a viable future," Des Quinn, automotive spokesman at Unite, said in a statement.
(Reporting by Alistair Smout and Michael Holden; editing by Stephen Addison)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Short sellers recoup losses as rally in US stocks loses steam
- Wells Fargo bond saleswoman sues over 'unapologetically sexist' workplace
- Microsoft earnings preview: Another strong report from the AI winner?
Create E-mail Alert Related Categories
General News, ReutersRelated Entities
LayoffsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!