Business

Ford to cease manufacturing in Brazil after more than 100 years


Ford Motor Co says it will close its three plants in Brazil this year and take pre-tax charges of about $4.1bn as the COVID-19 pandemic worsened the company’s under-utilisation of its manufacturing capacity.


The plant closures affect about 5,000 employees, mostly in Brazil, Ford spokesman TR Reid said on a conference call with reporters.


“We know these are very difficult, but necessary, actions to create a healthy and sustainable business,” Ford Chief Executive Jim Farley said in a statement.


Brazil’s economy ministry lamented Ford’s decision to end production in the country and said it reinforced the need for reforms to improve the business climate.


In Camacari, in northeastern Brazil, the union called an emergency meeting at the factory gates at the first shift on Tuesday to take a stance on the loss of 4,059 jobs.


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