Ford to close plant in Belgium, ten thousand will be out of work
According to a union leader Ford Motor Co. has decided to close one of its main factories in eastern Belgium by the end of 2014...
The move will result in ten thousand direct and indirect job losses...
Ford Motor Co. has been under pressure in Europe due to the region's dwindling demand for its cars and reflects the overall slide of car sales in Europe.
The plant in Genk makes the midsize Mondeo and the S-MAX minivan.
The company expects to lose more than $1 billion this year in Europe, where it gets a quarter of its sales.
Analysts say the company has more factory capacity than it needs.