BEIJING — Ford Motor Co's joint venture in China has "quietly begun" dismissing thousands of its 20,000 workers due to weak auto sales in the world's second-largest economy, the New York Times reported on Wednesday.
The report did not identify its source of the information on the scale of the job cuts.
Ford did not immediately comment on the report. A spokeswoman for Ford's local joint venture company, formed in partnership with Changan Automobile Group, did not respond to a request for immediate comment.
The news is part of a bigger report on how U.S. automakers are faring in the world's largest auto market, where they've invested billions only to see market forces, along with U.S.-China trade relations, shifting the ground beneath their feet. Output from Detroit's factories in China, the Times reports, has slowed to a crawl. The report says that output at Ford's three factories at the inland city of Chongqing are operating at one-fifth of their capacity.
The report is headlined "China Shifts, and Detroit's Big Bet Goes Sour."
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