Monday, February 18, 2008

Ford Motors Does Another Payout!

From payouts to buyouts, this Ford Motors timeline shows that the writing has been on the wall for this troubled company for a while. Hopefully the employees affected by these latest round of buyouts, will manage the imposed career changes and find success in new careers.

Ford Offers Buyouts, Early retirement offers to 54,000 - January 2008
Ford Motors offers early retirement buy outs to 54,000 hourly workers and replace them with lower-paid workers. Thursday's announcement came after Ford reported narrowing its losses in 2007 but warned that the outlook for U.S. sales in 2008 remains grim.

FORD'S Hourly buyout acceptances reach 38,000 this year - November 2006
As part of its North American turnaround plan, Ford Motors confirmed today that so far this year about 38,000 of its UAW-represented hourly workers accepted package offerings for voluntary separation from the company.

New Ford CEO to Get $18.5 Million Payout - September 2006 Ford Motor Company new chief executive gets an annual base salary of $2 million and a $18.5 million sign up bonus.

Judge Likely to Approve $10.5 Million Ford Payouts - March 2002
Easy approval is expected for Ford Motors proposed $10.5-million settlement of two class actions suits stemming from controversial and now-abandoned manager evaluation system. About 500 current and former mid-level managers would receive $5,000 to $100,000 each, minus attorney fees. The payments are meant to reimburse workers for unpaid raises, bonuses or promotions. About 80% of the class action members who were not active in the two lawsuits would get $5,000 or $14,000, depending on factors such as whether they took a buyout offer.

Payouts for low performance Is insult being added to injury - July 1998
By fall, Ford Motors is offering 5,000+ white-collar workers cash and other incentives to leave the company and move on to new careers. Only workers deemed "low performers" or "average/solid performers with limited potential" will be eligible to participate, according to a Ford memo obtained and printed in the Detroit Free Press.

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