Posted on 05/22/2013 6:44:27 PM PDT by Kommodor
Ford Australia says it will close its Australian manufacturing plants in October 2016, with the loss of hundreds of jobs.
Ford president Bob Graziano said approximately 1,200 workers would lose their jobs when the Broadmeadows and Geelong plants were shut down.
He made the announcement in Melbourne this morning after announcing that the company had lost $141 million over the last financial year - taking losses over the past five years to more than $600 million. Key points
Ford to close plants in 2016 More than 1,000 jobs to go, more at risk Government promises support for sacked staff
"Our costs are double that of Europe and nearly four times Ford in Asia," Mr Graziano said.
(more at source)
(Excerpt) Read more at abc.net.au ...
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