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Ford: 1,700 workers take early retirement offer

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03/16/2012 | 10:14pm CET

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.

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
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Financials ($)
Sales 2017 142 238 M
EBIT 2017 6 374 M
Net income 2017 6 488 M
Finance 2017 10 860 M
Yield 2017 5,88%
P/E ratio 2017 7,71
P/E ratio 2018 7,27
EV / Sales 2017 0,27x
EV / Sales 2018 0,34x
Capitalization 49 917 M
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Average target price 13,3 $
Spread / Average Target 5,7%
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NameTitle
Mark Fields President, Chief Executive Officer & Director
William Clay Ford Executive Chairman
Robert L. Shanks Chief Financial Officer & Executive Vice President
Raj Nair Chief Technical Officer
Marcy Klevorn Chief Information Officer & Group Vice President
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