This post was originally published on this site
WASHINGTON (Reuters) – Ford Motor Co (N:) plans to close an engine plant in Romeo, Michigan as part of a tentative agreement with the United Auto Workers union for a new four-year contract, a source told Reuters Thursday.
The 600 hourly workers at the plant will be offered jobs at a nearby transmission plant or buyouts, a source said. The UAW said Wednesday the Ford deal “secured over $6 billion in major product investments in American facilities, creating and retaining over 8,500 jobs for our communities.”
Ford is not immediately closing the plant but will close it at a future date under the UAW agreement.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.