Ford Motor Co. (F:NYE) cuts 1,100 Spanish jobs

Ford stock dividend

Ford Motor Company Stock Forecast:

According to 13 analysts’ predictions about the Ford Motor Company’s stock, the average target price for the next 12 months is USD 14.18. The overall rating given by these analysts is “Hold”. Another stock analysis company, Stock Target Advisor, has rated Ford Motor Company as “Neutral”, which is based on 6 positive signals and 7 negative signals. At the last stock market closing, Ford Motor Company’s stock price was USD 12.45. Over the past week, the stock price has decreased by -0.80%, over the past month by -7.71%, and over the last year by -23.95%.

F Ratings by Stock Target Advisor

Ford News:

Ford Motor Company (NYSE:F) has announced plans to cut 1,100 jobs at its plant located in Valencia, eastern Spain. This decision comes as the American automaker plans to stop producing Galaxy minivans and S-Max station wagon-like cars in Valencia. The news of the job cuts has been shared with unions and is part of the company’s changes to its car production lineup in Europe.

The company had previously stated that the shift towards electric vehicle production would entail job cuts when unveiling the project. The decision to stop production of Galaxy minivans and S-Max station wagon-like cars is part of a larger restructuring plan that aims to improve the efficiency of Ford’s European operations. This move is in line with Ford’s strategy to focus on high-margin models such as SUVs and trucks and reduce investment in lower-profit models.

The Valencia plant has been one of Ford’s most important production sites in Europe, with a history of producing popular models such as the Ford Focus and Kuga. The job cuts will undoubtedly have a significant impact on the local community, with many families depending on the plant for employment. The company has stated that it will be offering support to the affected employees, including outplacement services and financial assistance.

Shares of F are down 2.2% in morning trading on Friday following the announcement of the job cuts. However, it is important to note that this is not the first time Ford has made significant changes to its European operations. In 2019, the company announced plans to close several factories in Europe, citing overcapacity and a need to improve profitability.

In conclusion, Ford’s decision to cut jobs at its Valencia plant is part of the company’s wider strategy to improve efficiency and profitability in its European operations. While this decision will undoubtedly have a significant impact on the local community, the company has pledged to offer support to affected employees. Investors will be watching closely to see how these changes affect the company’s bottom line in the coming quarters.

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