Ford announced today that it will be cracking open the coffers to pay out a bonus to every single one of its salaried and hourly workers in the U.S. and Canada, a number that now stands between 120,000 and 128,000 people. According to Automotive News, the bonuses will range from $300 to $800 for nonmanagers, while management will get a little more (isn't that always the way?). Ford has stated the bonuses are meant to boost morale and recognize the hard work of the entire Ford family to reduce costs, improve quality and pair down the ranks.
The one question that has to be asked is where or not Ford can really afford this right now. If we were to assume the least expensive scenario of the automaker paying 120,000 workers a $300 bonus, the tally would come to $36 million. That's the least expensive scenario, which is a gross underestimate since there could be up to 128,000 eligible for the bonuses that range up to $800 and even more for managers. Morale is certainly important, don't get us wrong, but perhaps such a large payout during these tough times will actually shake the morale of those workers left who believe their leaders aren't making the right decisions. It's something to think about.
[Source: Automotive News]