Page last updated at 23:43 GMT, Monday, 21 December 2009

Ford offers incentive packages to cut US staff

Icicles form on the grille of a Ford vehicle
Ford says 1,000 workers took similar packages earlier in the year.

Carmaker Ford has offered incentive packages to all of its 41,000 US hourly workers in a bid to reduce its factory costs.

The company has more workers than it needs to produce cars at current sales levels, said spokesman Mark Truby.

It is not known how many workers Ford expects to take the packages.

Ford employed 89,000 people in the US at the start of 2009, but that number has dropped to 80,200 through buyouts and layoffs.

The buyout package, offered to workers with at least a year of service, includes $50,000 (£31,167) cash and either a $25,000 voucher to buy a Ford vehicle or $20,000 extra cash.

Retirement-eligible workers can take the buyout but must wait up to 18 months before retiring.

The retirement package includes $40,000 for skilled and $20,000 for non-skilled employees.

Earlier this year, 1,000 workers took similar packages, the company said in July.

Workers have until 22 January to accept the offer.

Ford announced profits of almost $1bn between July and September thanks to increased market share and a successful cost-cutting programme.



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FROM OTHER NEWS SITES
Business Day Ford offers staff buyouts and early retirement - 6 hrs ago
CBC Sudbury Ford extends buyout offer to Canada - 13 hrs ago
New Zealand Herald Ford reducing work force - 14 hrs ago
Globe Investor Ford buyouts extend to Canadian workers - 14 hrs ago
CNN Money Ford offers buyouts to 41,000 UAW workers - 25 hrs ago



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