Ford readying bonuses for entire workforce
Ford is making significant strides to turn its North American operations around. In 2006, it was able to cut almost 34,000 workers from its payroll after one round of buyouts and is looking to cut even more of its workforce this year through another payoff program that’s being offered to 54,000 UAW-represented workers.
While it’s mortgaged everything in its arsenal to keep afloat through the tough times, FoMoCo is planning to hand out bonuses this year, as it did last March.
According to the Freep, the bonus plan is sitting on the table in front of Ford’s Board of Directors, awaiting approval and it will likely cover some 23,700 salaried and 64,000 hourly workers in North America. Most salaried employees walked home with somewhere between $300 and $800 last year, with higher-ups paid “several thousand dollars to $15,000 or more.”
While we understand that keeping moral high in these troubling times is important, with Ford posting a net loss of $2.7 billion last year, it seems that the major “bonus” for workers is that they are still employed at the Blue Oval.
[Sources: Detroit Free Press, Reuters]
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