Ford Ending Production in Brazil; Will Book Roughly $4.1 Billion in Restructuring Charges
Ford (NYSE: F) is ending manufacturing in a major Latin American market. The sprawling carmaker announced Monday that it will stop producing vehicles in Brazil over the course of this year.
In doing so, Ford will book a total of around $4.1 billion in cash and noncash charges. Of these, $2.5 billion will be cash charges for costs related to employee termination and settlements; all told, roughly 5,000 workers will be affected by the shutdowns. The remaining $1.6 billion is anticipated to come in noncash write-offs for numerous accounting items affected by the retrenchment.
Image source: Ford.
Source Fool.com
