The UAW has announced that Ford will offer buyout packages of up to US$140,000 to all of the more than 75,000 workers at its US plants. The news came ahead of a Ford announcement on the acceleration of its North American turnaround plan ‘Way Forward’.

The buyout package for hourly workers is modelled on as similar buyout package the UAW agreed with GM. The UAW said the buyout packages, which include early retirement incentives, were also being extended to union-represented workers at Automotive Components Holdings, a group of factories formerly owned by Visteon Corp., Ford’s former parts unit.

“Once again, our members are stepping up to make hard choices under difficult circumstances,” said UAW President Ron Gettelfinger. “Now, it’s Ford Motor Company’s responsibility to lead this company in a positive direction – which means using the skills, experience and dedication to quality that UAW members demonstrate every day in order to deliver quality vehicles to customers.”

Ford had taken a cautious, plant-by-plant approach to its attempt to cut workers, but had met with more limited success than GM. GM had just under 35,000 workers accept its buyout offers.

The buyout offer has increased the expectation that Ford will announce more plant closings later on Friday (September 15), when it will announce the next phase of its restructuring programme – likely to include plant closures and a planned further reduction in Ford’s white-collar workforce. 

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

It also emerged on Thursday that one of the architects of ‘Way Forward’, Ford COO for The Americas, Anne Stevens, has decided to retire.