Ford to Axe 300 Australian Jobs
Ford Motor Company has previously announced a plan to exit Australia by 2016 due to high costs and strong currency, but new plans have many believing that the automaker may leave sooner than expected. This week, Ford announced that it will begin cutting production, with around 300 jobs being terminated by June. The automaker entered Australia back in 1925 at the Geelong, Victoria plant, but demand for the vehicles isn't what it used to be. This plant currently produces around 133 vehicles a day, and by June, that number will drop to 80 units a day. "We are continuing to match production with demand and that will mean we are reducing production by about a third in June with related job losses," said Wes Sherwood, company spokesman, to reporters. Ford isn’t the only automaker pulling out of the country, however. General Motors also announced plans to exit by 2017. With both Ford and GM out of the picture, Toyota would take over as the sole global automaker still producing vehicles in Australia. Sherwood went on to say that the automaker will still produce vehicles until that October 2016 deadline, but that if any major disruptions happen, that time table may be moved up. Source: Reuters
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