Saturday, September 22, 2007

Buyouts Offered To Ford Employees

Ford Motor Co. will be offering buyouts or early retirement packages to its 75,000 hourly-paid employees. The offer will be available to said employees starting Oct. 16. Moreover, salaried workers are given more than one chance to accept a buyout. However, employees who are represented by the United Auto Workers union must have decided before Nov. 27. After said date, they can no longer claim the option to choose either one of eight buyout programs or stay on with Ford. The programs to be offered by Ford comprise lump-sum payments of up to $140,000 as well as reimbursement of tuition besides the traditional early-retirement packages. The Dearborn-based automaker, which is famous for its best-selling