Ford Plans To Cut 1,100 Jobs In Spain: Report - Ford Motor (NYSE:F)

Ford Motor Co F reportedly plans to lay off 1,100 jobs in its Valencia plant in eastern Spain.
The job slash is a part of the automotive giant's changes in its car production lineup in Europe, reported Reuters.
Ford had decided to stop manufacturing minivans and S-Max station wagon-like cars in its Spanish plant.
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In 2022, the company said it was pushing back investment in Spain because of a revised Europe outlook.
"Ford will work constructively with its union partners to reduce the impact of the separations on employees, their families, and the local community," the report quoted a spokesperson of Ford.
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Price Action: F shares are trading higher by 0.64% at $12.53 in premarket on the last check Friday.
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