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-Ford to pay USD750m in severance pay to Genk plant workers.

Auto Business News-March 22, 2013--Ford to pay USD750m in severance pay to Genk plant workers(C)1994-2013 ENPublishing -

Auto Business News - 22 March 2013

Ford Motor Company (NYSE: F), a United States-based automaker, has agreed to pay USD750m in severance pay to hourly workers at its factory in Genk, Belgium.

The severance package will allow Ford to close the Genk plant by the end of 2014.

The contract includes 4,000 hourly workers in Genk, netting a per worker payout of USD187,500. Reuters has reported that Ford is still formulating a severance package for the Genk plant's 300 salaried workers.

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Publication:Auto Business News (ABN)
Geographic Code:4EUBL
Date:Mar 22, 2013
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