Basildon: Compensation For Visteon Staff

2 April 2014, 11:56

money

A settlement has been reached to offer compensation to former workers at Visteon, five years after the car parts company went into administration, hitting employees' pensions.

A settlement has been reached to offer compensation to former workers at Visteon, five years after the car parts company went into administration, hitting employees' pensions.

Unite said it had concluded an agreement with Ford, which hived off the car parts business to Visteon over a decade ago.

It is understood that around 1,200 ex-workers from factories in Basildon, Enfield, Belfast and Swansea, will be covered by the settlement.

Unite said in a statement: "Unite has concluded an agreement with Ford to make a settlement offer to eligible ex-Visteon employees who filed legal claims in connection with reductions in their pensions resulting from Visteon UK being put into administration in 2009.

"The settlement would avoid further expense for participants in the case and will settle the legal claims that these individuals have made against Ford.

"Unite and Ford have been involved in lengthy but constructive discussions to reach a position where a settlement has been offered.

"Details of the settlement are confidential and a private matter for those directly involved.''