Filed under: Ford

As Ford works to restructure itself with the goal of becoming more competitive in the marketplace the automaker has announced that 38000 UAW-represented hourly workers have accepted buyout packages so far. Roughly 30000 of those came through the recent open enrollment period when a variety of packages were offered to employees based on their employment circumstances. Retirement-eligible employees were offered traditional packages for example while employes with shorter tenure were presented with options that were more non-traditional in nature.

Ford CEO Alan Mullaly acknowledged that the decision to accept a package must have been difficult for many of the employees who did so and was quick to thank the UAW for working closely with Ford on the development of the various packages offered citing it as an example of the automaker and the union's longstanding ability to work in concert in the interest of strengthening the company's business.

The buyout acceptances can be rescinded by employees up until the date they are scheduled to leave the company. Those who do accept packages will begin leaving the company in January 2007/ The voluntary separarions will continue through the year with a goal of september 2007 set for completion.

You can read Ford's full press release after the jump.

[Source: Ford]

Continue reading Ford announces 38000 workers accepted buyout so far

 

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