Ford Motor, faced with cutting 30,000 hourly employees over the next six years, is making it as easy as possible to leave the company, with a range of incentive packages, including a lump-sum $100,000 buyout.
Ford expects to achieve half the cuts through attrition, but that still leaves 15,000 people who need to be "encouraged" to leave. Incentives include:
Ford expects to achieve half the cuts through attrition, but that still leaves 15,000 people who need to be "encouraged" to leave. Incentives include:
- a $100,000 buyout offer if you agree to forgo all benefits except accrued pension benefits
- an Educational Opportunity Program to develop a new career - up to $15,000 tuition a year for up to four years, plus full medical benefits and half salary while you're in school.
- early retirement for workers 55 and over, with 30 years at Ford - you will retire immediately, with $35,000 and full retirement benefits
- early retirement for workers 50 and over with 10 years at Ford - a worker-specific fixed income for life (less than retirement income, though)
- a pre-retirement leave program - up to two years paid leave at 85 percent salary until you reach 30 years at Ford (when you would be retired).
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