The automaker Ford announced on Wednesday plans to reduce its workforce by up to 1,600 positions at its assembly plant in Spain, as initially reported by Reuters.
The plant has currently 4,700 workers meaning that the latest layoff round would represent 34% of the company’s workforce in Valencia.
The reduction follows a previous cut of 1,100 jobs last year as the company considers rehiring 1,000 out of the 1,600 positions affected in this new round.
“A temporary solution could be negotiated for the other 1,000 to bridge the time until production of the new vehicle starts,” the spokesperson told Reuters.
Last month, Ford revealed plans to commence production of a new hybrid passenger car at the plant in Spain beginning in 2027 which is expected to reach an annual production volume of 300,000 units, as stated by Spain’s Industry Ministry.
Currently, the Valencia plant’s output is limited to the Kuga compact SUV, following the discontinuation of other models in recent years.
Jon M. Huntsman Jr., a board member of Ford Motor Co, has recently sold 81,234 shares of the company’s common stock, generating total proceeds of $982,200.
The shares were sold at a weighted average price of $12.091 each. Following this transaction, Huntsman Jr. now holds 168,601 shares in the company.
The automaker has recently requested its electric-vehicle suppliers to reduce costs to support profitability, stating “everything is on the table,” Reuters reported citing a company memo.
Since February, Mustang Mach-E and F-150 Lightning owners in the United States and Canada started reserving a complimentary Fast Charging Adapter, enabling the access to Tesla Superchargers.
