Arab Today, arab today ford announces sacking of 440 workers
Last Updated : GMT 07:35:49
Arab Today, arab today
Arab Today, arab today

Ford announces sacking of 440 workers

Arab Today, arab today

Arab Today, arab today Ford announces sacking of 440 workers

Canberra - AFP

Car manufacturer Ford announced Tuesday that it would sack 440 Australian workers as it scaled back production due to muted demand, despite a multimillion-dollar government bailout earlier this year. Ford said the jobs would be shed from its manufacturing plants in southern Australia\'s Geelong and Broadmeadows as part of a sweeping restructure to address plunging sales of its once-popular larger passenger vehicles, such as the Falcon saloon and the Territory SUV. Ford Australia president Bob Graziano said the changes, which will see production pulled back from about 210 cars to 150 cars per day from November, were \"essential to ensure the longer-term health of the business\". \"That adjustment to production allows us to run the plant as efficiently as we can given the volumes that we\'re projecting for the mid- to longer-term,\" said Graziano. \"We have to look at our manufacturing based on what we have on a corporate basis.\" Ford shed 240 jobs in Australia last April when it scaled back daily production from 260 cars. The latest cuts will leave Ford with 1,120 factory workers. Australia\'s auto industry is struggling with the effects of the high local dollar, which has traded near or above parity with the greenback for almost two years, squeezing exports and compounding rising production costs. Though Australia did not go into recession during the financial crisis, domestic confidence has failed to return to pre-crisis levels, also hitting car sales. Canberra extended a Aus$3.2 billion (US$3.3 billion) bailout to the ailing auto industry at the height of the global downturn and stepped in with additional lifelines to Ford and General Motors subsidiary Holden earlier this year. Prime Minister Julia Gillard defended the government bailouts, which included Aus$34 million to prop up Ford production in January, saying they had averted much more drastic losses. \"The assistance we\'ve provided was struck right with Ford, it was struck to ensure that Ford continued to produce motor vehicles here until 2016 at least,\" she told reporters. \"We\'ve seen these job losses today and that\'s very sad news, but if we hadn\'t stepped forward to work with Ford we would be talking about job losses in their thousands,\" she added. Holden in February announced that it would sack 100 workers, just one week after Australia\'s third major automaker Toyota fired 350 staff -- about 7.5 percent of its workforce -- due to \"severe\" operating conditions. The auto industry employs about 56,000 people in Australia and exported about Aus$3.3 billion worth of vehicles and components in 2011.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today ford announces sacking of 440 workers Arab Today, arab today ford announces sacking of 440 workers

 



Arab Today, arab today
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Blind sheikh buried in Egypt

GMT 06:32 2017 Thursday ,23 February

Blind sheikh buried in Egypt
Arab Today, arab today Media host Mona Iraqi stresses her show's success

GMT 15:32 2017 Wednesday ,22 February

Media host Mona Iraqi stresses her show's success

GMT 16:50 2017 Wednesday ,22 February

Yahoo salvages Verizon deal

GMT 15:47 2017 Wednesday ,22 February

Airbus faces challenges as it enters new era

GMT 11:47 2017 Wednesday ,22 February

Toshiba skyrockets over 22% on chip unit sale hopes

GMT 11:31 2017 Wednesday ,22 February

Bayer says Monsanto deal on track, eyes record 2017

GMT 10:49 2017 Wednesday ,22 February

Airbus says profits hit by military plane woes

GMT 06:43 2017 Wednesday ,22 February

LuLu festival offers a taste of Egypt
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today To hold social dialogue over secondary school

GMT 07:43 2017 Wednesday ,22 February

To hold social dialogue over secondary school
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Salma Rashid happy for 'A Whisper of Love'

GMT 05:19 2017 Tuesday ,21 February

Salma Rashid happy for 'A Whisper of Love'
Arab Today, arab today Small ponds have outsized impact

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 06:41 2017 Monday ,20 February

Janat pleased for issuing 'Good Morning'

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection

GMT 14:06 2017 Friday ,17 February

London to tax old cars

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 05:15 2017 Tuesday ,21 February

Omega 3 can reduce asthma cases

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday