Ford Motor's Russia joint venture cuts about 950 jobs due to drop in sales
April 4, 2014, 12:10 am TWN
AP--Ford Motor Co. says its Russian joint venture is cutting 950 jobs due to falling sales and the declining value of the ruble. The automaker says that Ford Sollers will cut 700 jobs at its plant in St. Petersburg and an estimated 250 temporary employees in Tartarstan. The reductions affect about 19 percent of its 5,000-person workforce in Russia.
Ford, based in Dearborn, Michigan, has a long history in Russia.