Posted on 12/21/2009 12:48:47 PM PST by Sub-Driver
Ford offers buyouts to all UAW workers Photo 3:27pm EST
DETROIT (Reuters) - Ford Motor Co said Monday it is offering its 41,000 U.S. factory workers buyouts and early retirement offers in a bid to reduce its payroll costs as it aims to return to profit by 2011.
The buyouts mark the second round of such offers for Ford workers represented by the United Auto Workers union. About 1,000 workers took offers to leave the automaker in July.
Ford workers have until late January to accept the offers, which include payouts of up to $70,000 cash for newer hires to $60,000 cash for veterans already eligible for retirement.
"Despite a strengthening in our business, we still have a surplus in employees," said Ford spokesman Mark Truby.
(Excerpt) Read more at reuters.com ...
I’ve always like Fords!
I’ve been a Ford guy since my old man shoved me under the hood of a ‘63 Falcon to change the water pump around my sixth birthday. Every time I have to help someone change the starter on a GM or the transmission on a Dodge, I reaffirm my preference for Ford.
All us “Ford guys” tho cannot change the over-capacity in the auto industry issue tho. A whole lot more capacity has to be shut down before profit margins stabilize. The GM/Saab story is very instructive for people to study. A whole car company, a point of big political turmoil in Sweden, is ready to be simply shut down and written off by GM... because it is cheaper than the alternative of keeping it open. It will take billions of dollars to turn Saab around, and every dollar GM flings into that black hole is another dollar they don’t have to prop up their main operations.
Saab sales in the US are down something like 61% this year over last year - and Saab US sells something like a few hundred units per month. IOW, it is a statistical noise blip on US auto sales - and it isn’t much better overseas. Saab hasn’t been profitable since 2001 (if my memory serves, so double-check that stat).
That’s the sort of over-capacity that needs to be shut down - and yet, there are European auto interests trying to buy the “whole company” to keep it alive. Lunacy. If one were a competent manager of an auto company other than GM, they should let it die and consider the 93,000+ vehicles that won’t be Saab next year to be a partial move towards margin support for the rest of the manufactures.
Yet, that’s not how these idiot auto execs seem to think. There’s at least two companies twisting themselves in knots trying to buy Saab. Lunacy.
They didn't take the proposed Contract Renegotiation's, hmmm... You think they could be a cowinkadink here with these two items? Do you think that if the numbers are not met, there might be the possibility of more "changes" i.e. permanent layoffs?
Chrysler’s been doing it for years.
was $100K a few years ago, last spring was $70k + a coupon for a $20k car
I know a lot of folks that took it. Blew through the money in a year or less, now bitching about having to work for $10/hr and 0 bennies.
The ones on layoff, still drawing 90% of their pay + full benefits. Some just got called back temporary, enough to reset the clock on their goodies.
Ping.
Sounds like it to me too. Unions have killed Michigan. And liberals.
C’n I take the buyout and then come back to work as a contractor?
Madam President, Mrs.Palin....
Meet your Vice Presidental running mate, Alan Mulally, current CEO of Ford...
thanks...it seems it should have been a high profile story when Chrysler was going through the bail-out.
I just missed it.
thanks again
I wouldn’t buy an automaker, at least not a US one. I’m afraid if Ford is too successful, Obama will crush them, or at least try.
Look folks, all this gloomy forecast can change in a heartbeat if we get a probusiness, tax cutting government in there.
My fired what?
My next car will be a Ford.
So, Chrysler and GM will drag the taxpayers down, not Ford. Nobody wants their sh!tty cars, and they can’t FORCE people to buy them, yet.
They made a few billion profit last quarter but apparently it wasn’t enough...
Why not??? Will the cost of vehicles then go down??? Of course not...So what's all the oooraaah about???
They would if we ran them all out of the country on a rail, but I guess I’m dreamin.
“Go Ford! Divest yourself of all UAW members. It will improve your image in the market place and improve your product. Get rid of the union and you won’t be able to build cars fast enough!”
Amen to that! I’m in the market for a new (to me) car next year. It will be a Ford. :)
Get rid of the Obama supporting UAW if you want to stay in business, FMC.
The American Socialist Party (formerly known as the Democrats) will never allow this to happen. Ever.
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