Ford buyouts to extend to Canadian auto workers, company confirms

The Canadian Press ~ The News
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TORONTO - Ford (NYSE:F) Canada has confirmed that a round of buyouts aimed at reducing its global workforce will be offered to the 6,200 workers at its Canadian plants.
The U.S.-based automaker says it is working resize its manufacturing capacity to better align it to market conditions.
Ford announced Monday it would offer buyout or retirement incentive packages to all of its 41,000 hourly workers in the United States.
Ford is the healthiest of Detroit's three automakers and the only one to avoid government aid and bankruptcy protection. Even so, it says it still has more workers than it needs to produce cars and trucks at current sales levels.
The company says there are currently about 1,000 hourly employees on layoff in Windsor, Ont.
In the U.S., Ford's buyout package is available to workers with at least a year of service and it includes $50,000 cash and the choice of a $25,000 voucher to buy a vehicle or $20,000 more in cash.

Organizations: NYSE

Geographic location: United States, TORONTO, Canada Detroit Windsor

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