Ford cuts shift at B-Max assembly plant, offers buyouts

CHICAGO Sat Nov 24, 2012 1:14am IST

Stocks

   

CHICAGO (Reuters) - Ford Motor Co (F.N) is cutting a shift at a factory in Romania that makes its B-Max people mover and will offer buyouts to some hourly workers as auto demand in Europe falters, the second-largest U.S. automaker said on Friday.

The Craiova Assembly Plant will now operate on a single shift. During the winter shutdown, Ford will make changes to the production process to increase the line speed, the company said.

Ford will also move its Craiova engine plant to two shifts, up from a single shift now, to support demand for the 1.0-liter turbocharged engine and the upcoming launch of the new 1.5-liter engine, Ford said.

About 500 employees working at the assembly plant will be transferred to the engine plant. Ford is also running a "limited voluntary separation program" for hourly workers with more than four years of service at Craiova.

The company is still in discussions with unions, a Ford spokesman said Friday. The plant has about 3,600 employees with most workers having more than four years of service.

The B-Max was launched in Europe this fall and is based on the same platform as the Fiesta subcompact.

Auto sales in Europe have tumbled this year as economic weakness saps consumer confidence. Ford expects to lose at least $3 billion in Europe over the next two years.

(Reporting By Deepa Seetharaman; Editing by Tim Dobbyn)

Fast-tracking Projects

REUTERS SHOWCASE

Oil Prices

Oil Prices

Oil resumes slide after brief rebound on short-covering.  Full Article 

Space Programme

Space Programme

ISRO tests its heaviest space launch vehicle, eyes global market   Full Article 

Coal India Strike

Coal India Strike

Coal India workers threaten five-day strike, stokes output worries  Full Article 

Gold Discount

Gold Discount

Dealers offer gold discount for first time in five months  Full Article 

Lakhvi Granted Bail

Lakhvi Granted Bail

Pakistan court bails man accused of masterminding Mumbai attack  Full Article 

GST Bill

GST Bill

Cabinet clears bill for nationwide goods and services tax.  Full Article 

Aviation Sector

Aviation Sector

Breakingviews: SpiceJet rescue is no fix for India aviation woes.  Full Article 

Global Economy

Global Economy

Fed confident on U.S. growth, opens door wider to rate hike.  Full Article 

Reuters Poll

Reuters Poll

BSE Sensex to hit 32,980 by December 2015  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage