Ford Offers Buyouts to 15,000 Salaried Employees

Workers are being offered voluntary buyout packages that range from three months' pay to 18 months' pay, according to a Ford spokesman.

Author:: TheStreet Staff
Publish date:: Jun 9, 2017 7:37 AM EDT

Ford Motor Company (F) - Get Report has started offering buyouts to 15,000 salaried employees in North America and Asia as part of its effort to reduce its global workforce by 1,400, the Detroit Free Press reported.

Workers are being offered voluntary buyout packages that range from three months' pay to 18 months' pay, according to a Ford spokesman. The amount of the offer depends on how long the employee has worked for Ford, the person's salary, position and other benefits.

Under pressure from shareholders to boost its share price, Ford announced plans last month to trim its salaried workforce. Last month, Ford hired Jim Hackett as CEO to replace the retiring Mark Fields, who retired.

This article was written by a staff member of TheStreet.