You are here

Ford plans to lay off 2,000 workers for Ranger, Bronco retooling

[SOUTHFIELD, MICHIGAN] Ford Motor Co will lay off about 2,000 workers for almost six months this year as the US automaker retools a Michigan plant to produce Ranger pickups and Bronco sport utility vehicles.

The Michigan Assembly Plant in Wayne will temporarily dismiss workers from around May 7 through Oct 22, according to a notice Ford filed with the state. The factory that's been producing slow-selling Focus compact cars and C-Max hybrids is switching gears to begin making the Ranger late this year and the Bronco in 2020.

Ford's shares have dropped 17 percent this year, trailing the 0.7 per cent gain by the benchmark S&P 500 Index.

BLOOMBERG

sentifi.com

Market voices on: