Almost half of Ford Motor Co.’s hourly production workers _ 38,000 so far this year _ have accepted buyouts or early retirement offers as the nation’s second biggest automaker shrinks in the face of multibillion-dollar losses and fierce competition from Asian carmakers.

The figure includes approximately 30,000 buyouts during the open signup period that concluded late Monday, plus about 8,000 who took deals offered at limited plants earlier this year.

Faced with lower demand for its products, Ford had hoped that 25,000 to 30,000 workers would sign up during the just-expired round of buyout offers so it could reduce manufacturing capacity to better match demand. The number who did was at the top end of that range.

The 38,000-worker reduction this year would amount to nearly 46 percent of the 83,000 unionized employees that Ford had at the start of the year.

Ford lost $7 billion in the first nine months of this year, and will spend (at a minimum) $1.33 billion on these buyouts.

Comments are closed.