Ford Offering Buyouts Again

January 25th, 2008

Ford Motor Company is still struggling, so they are resorting to one of their best known tactics when things get tough. Buyouts.

Ford Motor Co (F.N) posted a sharply narrower fourth-quarter loss on Thursday after cutting costs and boosting margins on vehicles and said it expects another net loss for the full year 2008.

The nation’s No. 3 automaker, which has struggled with declining sales and sliding market share in the United States, said it would take further cost-cutting actions on its home turf, including offering buyouts to all of its unionized work force.

Ford reported a fourth-quarter net loss of $2.75 billion, or $1.30 per share, compared with a loss of $5.63 billion, or $2.98 per share, a year earlier.

In 2006, Ford spent a minimum of $1.33 billion on buyouts, and they saved a bundle doing so. If almost half (38,000) of them took the buyout offers back then, how many more people can they spare before they have to stop producing automobiles and become another empty building?

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2 Responses to “Ford Offering Buyouts Again”

Ford In It For The Long Haul : RoCaBaP:

January 26, 2008 at 11:54 pm

[...] which earlier this week announced they have lost even more money and are preparing to offer buyouts to all of their union employees, but now they say they are committed to NASCAR and promise better times ahead! Ford isn’t [...]
Kooks In Suits » Blog Archive » GM To Offer Buyouts Like Ford:

February 13, 2008 at 4:01 am

[...] it was Ford, now GM is going to offer buyouts to all of their union employees. General Motors Corp (GM.N) said [...]

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