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4-Traders Homepage  >  Equities  >  Nyse  >  General Motors Corporation    GM

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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 Flex vehicles are lined up for sale at a Ford dealership in Tustin

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 2017 145 B
EBIT 2017 12 069 M
Net income 2017 7 045 M
Finance 2017 5 604 M
Yield 2017 3,75%
P/E ratio 2017 10,34
P/E ratio 2018 7,26
EV / Sales 2017 0,37x
EV / Sales 2018 0,38x
Capitalization 59 188 M
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Number of Analysts 23
Average target price 46,3 $
Spread / Average Target 11%
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Managers
NameTitle
Mary Teresa Barra Chairman & Chief Executive Officer
Daniel Ammann President
Randall D. Mott Chief Information Officer & Senior Vice President
Patricia Fiorello Russo Independent Director
Carol M. Stephenson Independent Director
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