Ford kicks in $10 million for workers as CEO prepares for crisis talks on car industry
ABC Updated June 4, 2013, 12:51 pm
Ford says it will contribute $10 million to help workers who will lose their jobs when the company winds up its Australian manufacturing operations.
The car company announced late last month that 1,200 workers would lose their jobs when manufacturing plants in Geelong and Broadmeadows close their doors in October 2016.
Prime Minister Julia Gillard had called on the company to contribute "generously" to the $40 million relief fund set up by the Government.
Ford chief executive officer Bob Graziano will also attend a crisis summit on the future of the car industry.
Industry Minister Greg Combet says the summit will be held this Friday and will bring together the major car manufacturers.
"[The meeting will bring] together others in the manufacturing industry and representatives like the suppliers and the components manufacturing part of the car industry, together with decision makers to discuss the pressures that are on the industry and what policy settings are best for the period ahead of us," he said.
"Because as is clearly in evidence, the industry is under a lot of pressure."
Ford made the closure decision last month after revealing it had lost $141 million in Australia over the last financial year - taking losses over the past five years to more than $600 million.
The decision marks the end of an era for the Australian car industry, with the Falcon brand to be retired when the plants shut their doors.
