Friday, September 15, 2006

Ford Offering buyouts to all U.S. hourly workers

Ford Motor Co. will offer buyout and early retirement plans to all of its hourly U.S. employee more than 75,000 of them as part of a broad restructing plan aimed at cutting its cost in light of slumping sale.
Ford , the nation's second biggest automaker confirmed the plan Thursday after union officials disclosed the company would make the buyout offer of up to $140,000 each to workers. The Chigago assembly plant on the Far South Side employs 2,500 hourly workers. Local union officials were not available for comment.
The automakers has about 82,000 workers represented by the United Auto Workers at the end of last year, but about 6,500 have taken previous buyout and early retirement offers made mainly at plants schedule for closure, the company said. The new offer would cover the remaining unionized workers. The buybacks are aimed at helping Frod cut costs as its sale shrink under fierce competition from Asian automakers. AP

Posted by Briley Knox

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