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General Motors Company : Ford to pay bonuses, raises for salaried workers

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01/19/2012 | 06:27pm CET

Ford Motor Co (>> Ford Motor Company) will give bonuses and merit-based raises to salaried workers in the United States and Canada this spring, the first time the No. 2 U.S. automaker has paid out both since the onset of the financial crisis.

The company will offer an average 2.7 percent salary increase that is based largely on individual performance, Ford spokeswoman Marcey Evans said.

The raises will be effective April 1 and bonuses will paid in March, Evans added.

Mark Fields, who runs Ford's operations in North and South America, sent a note last week to 20,000 salaried employees in the United States and Canada confirming that both bonuses and merit pay increases will be offered.

Ford last offered both in 2008, when the U.S. automaker was in the early stages of its turnaround plan "One Ford" under Chief Executive Alan Mulally.

Then in the fall of 2008, investment Lehman Brothers filed for bankruptcy, sending global markets into a tailspin and pushing Ford's crosstown rivals General Motors Co (>> General Motors Company) and Chrysler Group LLC (>> Fiat SpA) to the brink of collapse.

Ford, the only U.S. automaker not to take a federal bailout, paid neither bonuses nor pay increases in 2009.

In 2010, Ford offered only merit-based pay increases to salaried workers. Last year, salaried employees received a only a bonus.

(Reporting by Deepa Seetharaman in Detroit. Editing by Gunna Dickson)

Stocks treated in this article : Ford Motor Company, General Motors Company, Fiat SpA
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Financials ($)
Sales 2016 163 090 M
EBIT 2016 11 553 M
Net income 2016 9 463 M
Finance 2016 8 048 M
Yield 2016 4,26%
P/E ratio 2016 5,96
P/E ratio 2017 6,31
EV / Sales 2016 0,28x
EV / Sales 2017 0,29x
Capitalization 53 459 M
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Average target price 36,0 $
Spread / Average Target 2,7%
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NameTitle
Mary Teresa Barra Chairman & Chief Executive Officer
Daniel Ammann President
Charles K. Stevens Chief Financial Officer & Executive Vice President
Randall D. Mott Chief Information Officer & Senior Vice President
Kathryn V. Marinello Independent Director
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