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Ford to Pay €580 Million Severance in Belgium
Ford Motor Co. says it will pay each of the 4,000 hourly workers at its assembly plant in Genk, Belgium, an average of $187,500 (€145,000) in severance in connection with the facility's closing next year.
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Ford Motor Co. says it will pay each of the 4,000 hourly workers at its assembly plant in Genk, Belgium, an average of $187,500 (€145,000) in severance in connection with the facility's closing next year.
Workers in Genk ratified the proposed severance package late last week.
In a filing with U.S. securities regulators, Ford says it will book the $750 million (€580 million) total over the next several quarters.
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