By the august of the next year, Ford will be ending its production in France at the Blanquefort plant of the company.
This is was in the wake of the rejection of the rescue deal for the factory of the company.
The move of the company irked the finance minister of France because of the risk of losses of large scale job in the country.
The government of France had expressed optimism this autumn that the 850 employees who work in plant located in the southwest of France will be saves.
But the company told the works council of the plant that Ford had rejected the bid which was proposed by Punch Powerglide who is the transmission supplier.
In a statement to the work council, the company stated that despite the nine months of thorough and rigorous talk with the best of efforts from both the sides the plan which has been put forth by the supplier presents significant risks.
The company further added that it does not believe that the plans of the prospective buyer offer the security or the protection to the standard level nor does it limit the risks imposed to the future job losses that are possible which would be liked by the company for the employees.
These job losses which are coming at the time of public rebellion will come as a blow for Emmanuel Macron who has been trying to liberalize the economy.
His efforts also include the easing of the labour laws along with the battles of hauling down unemployment of the company are also being rebelled by the public.
Punch Powerglide was described as “credible, solid buyer” in September by Bruno Le Maire who is the finance minister.
Source: Reuters, KGFO
