BUCHAREST (Reuters) - Ford Motor Co (N:F) said on Friday it would lay off about 500 people at its Romanian division this year, less than initially envisioned.
In November, Ford Romania said it planned to cut some 20 percent of its staff, about 680 people, as it adjusts to a weak European market.
"Today we are able to confirm that we have reached an understanding with unions to implement a reduced work schedule at the Craiova plant, which will allow the company to avoid laying off approximately 170 people," the firm said in a statement.
Around 490 employees had joined a voluntary redundancy plan, the statement said.
Ford took over struggling Romanian carmaker Automobile Craiova in 2008 and started producing its B-Max model there three years ago. However, low demand has led to regular production stoppages each month for more than a year.
Add a Comment
Are you sure you want to block %USER_NAME%?
By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.
%USER_NAME% was successfully added to your Block List
Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.