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Ford - Source: Reuters -
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Ford Motor Co has said it is offering its 41,000 US factory workers buyouts and early retirement offers in a bid to reduce its payroll costs as it aims to return to profit by 2011.
The buyouts mark the second round of such offers for Ford workers represented by the United Auto Workers union. About 1,000 workers took offers to leave the automaker in July.
Ford workers have until late January to accept the offers, which include payouts of up to $US70,000 cash for newer hires to $US60,000 cash for veterans already eligible for retirement.
"Despite a strengthening in our business, we still have a surplus in employees," said Ford spokesman Mark Truby.
Ford was the only US automaker to have steered clear of a bailout and bankruptcy in the past year, and its relatively stronger position compared with its domestic rivals has complicated a bid to win new concessions from its major union.
Last month, UAW workers overwhelmingly rejected a proposed cost-cutting deal for Ford that would have changed the terms of a labour contract that runs until 2011.
