This doesn't look like excess demand either. Slowing down a factory, laying off hourly workers:
Thursday May 25, 4:40 pm Eastern Time
Ford slashes Cougar, 626 output at Flat Rock plant
FLAT ROCK, Mich., May 25 (Reuters) - Slow sales of the Mercury Cougar coupe and Mazda 626 sedan have prompted Ford Motor Co. (NYSE:F - news) to cut production by 36 percent at its AutoAlliance joint venture assembly plant, affecting 945 workers, a company spokeswoman said Thursday.
The plant, located 10 miles south of Detroit and owned jointly with Japanese partner Mazda Motor Corp. , will produce 58 vehicles an hour on one shift, instead of 45 vehicles an hour on two shifts, said Ford spokeswoman Cheryl Eberwein.
Of the employees affected, 875 are hourly workers from United Auto Workers union Local 3000, and 70 are from Ford salaried ranks. Ford will work to reassign all the employees to new jobs, Eberwein said. |
