Ford Motor to close Belgian plant in 2014; 9,500 jobs hit

Ford Motor will close a car plant in eastern Belgium — one of its main European factories — by the end of 2014, a move that will result in 4,500 direct job losses and 5,000 more among subcontractors. Exactly half a century after construction on the Genk plant started, Ford told a management council there that production was winding down since slumping European sales has forced a restructuring of its plants.

Ford has been under pressure in Europe due to the region's dwindling demand for its models and the overall slide of car sales on the continent due to the debt crisis.

The company expects to lose more than $1 billion this year in Europe, where it gets a quarter of its sales. Analysts say Ford has more factory capacity than it needs.

"The proposed restructuring of our European manufacturing operations is a fundamental part of our plan to strengthen Ford's business in Europe,'' chief executive officer Ford of Europe Stephen Odell said in a statement.

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