08:28 AM EDT, 06/12/2024 (MT Newswires) -- Ford (F) said Wednesday that it plans to eliminate another 1,600 jobs at its assembly plant in Valencia, Spain, in addition to the 1,100 it eliminated last year, Reuters reported, citing a spokesperson.

The company, which employs 4,700 workers at the factory, told labor groups that it plans to permanently eliminate 600 jobs while keeping the option open to potentially rehiring another 1,000 workers when it boosts production of hybrid vehicles in 2027, the report quoted the spokesperson as saying.

Ford did not immediately reply to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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