Ford to offer buyouts to entire hourly workforce of 75,000 employees

[Herman Munster]

http://apnews.myway.com/article/20060914/D8K4U4AG1.html

DETROIT (AP) - One day before Ford Motor Co. (F) (F) was to announce another huge restructuring plan, a key component became clear - buyout and early retirement offers to the company's entire U.S. hourly work force of 75,000.

The move, designed to drastically chop Ford's labor costs amid slumping sales, was announced Thursday afternoon by the United Auto Workers union. Ford hasn't said how many workers it hopes will take the offers, but it has previously announced plans to cut up to 30,000 hourly jobs by 2012.

The announcement came just after Ford's board of directors, including new Chief Executive Officer Alan Mulally, wrapped up a two-day meeting to approve a broad restructuring plan aimed at restoring the troubled No. 2 automaker to profitability.

But the UAW statement only fueled anxiety in Ford plants and offices across North America as workers braced for the announcement of further cuts scheduled for Friday morning.

[Donnachaidh]

1. and just how many plants does Ford have in Mexico?

And are they being offered buyouts?:sarcasm:

[Herman Munster]

3. the buyouts are fairly generous

between $35,000 and $140,000 depending on age and years of service.

If given the choice of taking guaranteed money now or continuining to work for a bankrupt company that may fold in a few years where I'd get nothing. I'd probably take the money and run.

[peace13]

5. Not lucrative if you can't find another job!

Just where are these people going ot find work? Mexico? I think they have strict immigration laws.

[skids]

6. Especially since COLA raises going forward are not likely. n/t

[Parche]

14. ford

But the economy is doing well, its 'hard work' helping out the economy, with tax cuts for the rich.

[WhiteTara]

2. good plan since no one wants Ford n/t

I'd take the money and run like a rat leaving a sinking ship.

[elifino]

9. Tax on early retirement

I took early retirement from my former employer and yes not only federal and state tax, also Fica.

[WhiteTara]

13. ah, the little last stab to make sure that

no one can thrive. If we survive they figure we are doing just fine.
Welcome to DU elifino :hi:

[bluestateguy]

4. Could be a good deal if you are nearing retirement age

though I wonder if the IRS takes a cut.

[Botany]

7. Good Lord

Ford to offer buyouts to entire hourly workforce of 75,000 employees.

All of workers @ every Ford plant in America gone?

The homes, the communities, the families, the schools, ......

Talk about keeping America safe .... America is dying.

[Keepontruking]

8. Ford buyout

Sorry no pity here...raised in Michigan till I was 16...boys dropped out of school to make the holy buck and still make more than I do with my college education while I hold lives in literally in my hand...they put a bolt in a car. Their Union did a great job for them I can't afford their prices!!! So Ford will move more out of country... that's life when labor is cheaper. You can't be too greedy sometimes without a high school diploma!!!!!!!! Circus girl

[Name removed]

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[Batgirl]

11. No one is asking for your pity

It's unbelievable to me to read your complaint that you can't afford to buy a new car because of those shoprats making the big money for "putting a bolt in a car." While you "hold lives literally in your hand." You actually comment approvingly that a U.S. automaker is outsourcing their manufacturing to countries that have cheap labor.

I grew up in a Michigan factory town and still reside there. My family tree is thick with shoprats. My dad's shoprat paycheck bought me a college education. Unlike you, I don't think that entitles me to feelings of superiority, much less martrydom.

I'm old enough to have witnessed firsthand what happens to a community when a substantial percentage of those middle class wages go away. All sorts of other business are destroyed as a consequence of no longer having enough customers with disposable income.

This latest news isn't at all about your apparent resentment over the perception that unionized factory workers make more money than you. It's also about much more than the fact that 10s of thouands of Ford auto workers that are about to lose their jobs. It's about the vanishing middle class and all the other businesses that are going to close and all the other incomes that are going to shrink.

Your comments make it sound like you'd prefer these factory workers to have jobs at Walmart making $6/hr. because that would be more in line with how you view their contribution to society in comparison to your own. I can only think about what has happened in Flint over the past 30 years, what is currently happening to the state of Michigan, and think this is a classic case of "be careful what you wish for."

[Name removed]

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