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4-Traders Homepage  >  Equities  >  Nyse  >  Ford Motor Company    F

FORD MOTOR COMPANY (F)
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Ford: 1,700 workers take early retirement offer

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03/16/2012 | 10:14pm CEST

DETROIT (Reuters) - About 1,700 Ford Motor Co's (>> Ford Motor Company) workers accepted early retirement offers and most of them will leave the No. 2 U.S. automaker by June 1.

DETROIT (Reuters) - About 1,700 Ford Motor Co's (>> Ford Motor Company) workers accepted early retirement offers and most of them will leave the No. 2 U.S. automaker by June 1.

The buyouts were offered as part of the Ford's contract talks with the United Auto Workers last fall. Ford employs 41,000 UAW-represented workers.

Ford offered $50,000 to eligible production workers who retired by March 31, 2012. The company also offered a $100,000 bonus for skilled trade workers who retired by that date.

Ford spokeswoman Marcey Evans said Ford expects the "majority" of employees who agreed to the buyout to leave by June 1. Others who opted to take the buyout earlier this year have already started to leave.

By reducing the number of older workers on their payroll, Ford, General Motors Co (>> General Motors Company) and Chrysler Group LLC (>> Fiat SpA) is creating room to hire new workers at lower wages.

(Reporting By Deepa Seetharaman; Editing by Richard Chang)

Stocks treated in this article : Ford Motor Company, Fiat SpA, General Motors Company
Stocks mentioned in the article
ChangeLast1st jan.
FIAT SPA 1.22% 7.025 End-of-day quote.18.17%
FORD MOTOR COMPANY 1.59% 11.51 Delayed Quote.-8.25%
GENERAL MOTORS CORPORATION 0.79% 38.09 Delayed Quote.-6.56%
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Financials ($)
Sales 2018 148 B
EBIT 2018 6 022 M
Net income 2018 6 095 M
Finance 2018 10 234 M
Yield 2018 6,07%
P/E ratio 2018 7,27
P/E ratio 2019 7,28
EV / Sales 2018 0,23x
EV / Sales 2019 0,24x
Capitalization 44 856 M
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Mean consensus HOLD
Number of Analysts 24
Average target price 12,3 $
Spread / Average Target 8,4%
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Managers
NameTitle
James P. Hackett President, Chief Executive Officer & Director
William Clay Ford Executive Chairman
Joseph R. Hinrichs Executive VP & President-Global Operation
Robert L. Shanks Chief Financial Officer & Executive Vice President
Jeff Lemmer Vice President & COO-Information Technology
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