Ford Confirms Buyout Offer to 75,000 Workers ; Closings Likely in Restructuring

The Record, Bergen County, NJ › September 15, 2006

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Summary

DETROIT Ford Motor Co. will offer buyout and early retirement plans to all of its hourly U.S. employees more than 75,000 of them as part of a broad restructuring plan aimed at cutting its costs in light of slumping sales.

Ford confirmed the plans Thursday after union officials disclosed the company would make the buyout offers of up to $140,000 each to workers.

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Ford Confirms Buyout Offer to 75,000 Workers ; Closings Likely in Restructuring

The automaker had about 82,000 workers represented by the United Auto Workers at the end of last year, but about 6,500 have taken pre...

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