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Ford paying $750 million just to close plant in Belgium

According to a report from Reuters, Ford is shelling out $750 million in a severance deal that will see the automaker close its facility in Genk, Belgium. The automaker reached this deal with the 4,000 hourly workers employed at the plant last week, which means the company will pay out an average of $187,500 per worker.
Ford is still negotiating with the 300 salaried workers at the factory, which currently produces the Mondeo sedan. All told, Ford expects to lose around $2 billion in Europe thanks in no small part to the region's ongoing economic downturn, and two more plants are scheduled to be shut down in Europe this year. The company will log its $750 million payout under "special items" for this quarter.
As you may recall, Ford took a similar path in the US back in 2009 when the domestic market took a spill. Back then, the company shelled out around $50,000 per employee with at least one year of experience, plus either $25,000 toward a new car or an extra cash payment of $20,000. It would seem the cost of closing plants in Belgium is a much harder pill to swallow than in the States...

Tesla Model Y and Cadillac CT5 | Autoblog Podcast #573

In this week's Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Consumer Editor Jeremy Korzeniewski and Associate Editor Joel Stocksdale. They catch up on the Tesla Model Y, as well as the Cadillac CT5 and the brand's new naming structure. Afterward they talk about our driving the 2019 Mazda3, 2019 Volkswagen Golf GTI and 2019 Ford Ranger. Finally, the three editors take a lap around eBay looking for the best ways to spend $15,000 on a car. Autoblog Podcast #573 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Tesla Model Y unveiled Cadillac CT5 and Cadillac's new badging strategy Cars we're driving: 2019 Mazda3 2019 VW Golf GTI 2019 Ford Ranger How we'd spend $15,000 on eBay Feedback Email – Podcast@Autoblog.com Review the show on iTunes Related Video:

2022 Ford Maverick and GMC Hummer EV driven | Autoblog Podcast #699

In this episode of the Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Senior Editor, Autoblog Green, John Beltz Snyder. John is fresh off the 2022 Ford Maverick first drive, and Greg got behind the wheel of the GMC Hummer EV at GM's Milford Proving Grounds. John also just spent a week living the fast life in the Audi RS E-Tron GT. They muse about thee Lamborghini Countach, both old and new, particularly a reboot of the 1971 Lamborghini Countach LP prototype 500. Finally, they reach into the mailbag to help a listener decide whether or not to replace a 2002 Mercedes-Benz E 320 wagon with an all-wheel drive electric crossover. Send us your questions for the Mailbag and Spend My Money at: Podcast@Autoblog.com. Autoblog Podcast #699 Get The Podcast Apple Podcasts – Subscribe to the Autoblog Podcast in iTunes Spotify – Subscribe to the Autoblog Podcast on Spotify RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown What we're driving:2022 Ford Maverick 2022 GMC Hummer EV 2022 Audi RS E-Tron GT 1971 Lamborghini Countach LP prototype 500 lives again Spend My Money: Keep a 2002 E 320 Wagon or buy a new AWD EV? Full Transcript Feedback Email – Podcast@Autoblog.com Review the show on Apple Podcasts Autoblog is now live on your smart speakers and voice assistants with the audio Autoblog Daily Digest. Say “Hey Google, play the news from Autoblog” or "Alexa, open Autoblog" to get your favorite car website in audio form every day. A narrator will take you through the biggest stories or break down one of our comprehensive test drives. Related Video: 2022 GMC Hummer EV Edition 1 first drive