More than 103,000 Ford Motor Company hourly employees across America have received profit-sharing cheques averaging $6,700.
“Workers around the nation are receiving $US733 million today – the second-highest payout in the 18-year history of our profit-sharing program,” said Edison plant manager Robert Webber, who helped hand out cheques totaling more than $US10 million to local workers.
Ford has more than 103,000 hourly workers in the United States. Because of retirements and new hires during 2000, the number of people receiving cheques was about 110,000.
The record average cheque at Ford was $US8,000 for 1999, which was paid last year. The average payments for each year, added together over the 18 years, come to $47,275.
The profit sharing programme was negotiated by Ford and the United Auto Workers in 1982.
It is designed to reward workers based on the sales and profits of Ford’s U.S. operations, excluding certain non-automotive subsidiaries. Individual sums are based on the amount of pay earned by each worker during a calendar year, which means that pay scales and overtime are included.
In three of the 18 years, no money was paid out.
Of the more than 103,000 active U.S. hourly workers on the rolls at the end of last year, 79,000 work at Ford sites and 24,000 are hourly Ford employees working at Visteon in the United States.
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