Wednesday, February 08, 2006

Ford Finally lays out some specifics for their employee’s

Ford Offers $100,000 Buyouts
The Detroit News

Here are some highlights
Ford Motor Co. is preparing an array of severance packages …for workers whose plants are slated to close…
Ford will offer eligible workers these options:

A special $100,000 buyout offer for those who agree to leave the company and forgo all benefits except pension benefits they have accrued.

An Educational Opportunity Program to help workers move into a new career. The program provides workers with at least one year of seniority with up to $15,000 a year for tuition to an accredited school of their choice for up to four years. Those workers will receive full medical benefits and half their regular pay while they attend school.

Two early retirement programs.
The first is for workers 55 and older who have 30 or more years with the company. They will receive a $35,000 check and begin retirement immediately, with full retirement benefits.
The other program is for workers 50 and older with 10 or more years at the company. They will be provided a fixed level of income for life, though not as much as they would receive through the regular retirement program. The amount will vary from individual to individual,


Blogger Garble said...

That college offer is great, Now instead of loosing jobs to Mexican Assembly workers we can loose you job to Indian Computer programers.

8/2/06 13:21  

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