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Ford to close Bridgend engine plant in UK with 1,700 workers

Key Points
  • The Bridgend plant has 1,700 employees.
  • Ford announced last week that it would layoff 7,000 employees by August.
  • Those layoffs include 1,500 U.S. employees who took voluntary buyouts last year.
A general view of the Ford engine plant on January 12, 2019 in Bridgend, Wales.
Matthew Horwood | Getty Images

Ford is closing an engine plant in the U.K. as the Detroit automaker restructures its global workforce, according to someone familiar with the plans.

The closure of the plant in Bridgend, Wales, which has 1,700 employees, comes as Ford slashes thousands of jobs in the U.S. and overseas in a massive restructuring plan.

Ford confirmed on Thursday morning that it is proposing to close the plant in 2020 and said that 400 employees signed voluntary separation agreements earlier this year. The company said it expects to incur charges of $650 million as part of the plant closure.

Ford announced plans last month to lay off 7,000 people by August. Those layoffs, most of which are expected to be overseas and focus on white-collar jobs, are designed to save Ford up to $600 million annually. The company also said earlier this year it was looking to restructure its European segment, which has about 53,000 employees.

The 7,000 planned layoffs include roughly 1,500 voluntary buyouts taken by U.S. employees last year and will reduce Ford's white-collar workforce by 10%. The company has about 199,000 employees overall, according to a filling with the Securities and Exchange Commission.

The plant closure was previously reported by Sky News and The Financial Times.

—CNBC's Phil LeBeau and Reuters contributed to this report

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Autos

Ford to cut 7,000 jobs by August, including 900 this week

Key Points
  • Ford is laying off about 10% of its global salaried workforce, the company said Monday. 
  • The job cuts are part of the companies restructuring effort and is expected to save the No. 2 automaker $600 million annually.
  • Most of the reductions are overseas with roughly 2,300 of the job cuts coming from the United States.