Ford said that about 27,000 of the union workers
who acknowledged the buyout offers have gone away from the company, till now. Nearly 37,000 United Auto Workers (UAW) union employees had accepted Ford’s offer as part of the company’s ongoing reformation process. The automaker, which recorded a record loss of $12.7 billion in 2006 and a loss of $282 million for the 2007 first quarter, is planning to bring about an immense change. For this, Ford is in a four-year turnaround plan aiming to slash 16 plants and up to 45,000 jobs. Ford has however revealed that it has about 700 workers assured of nearly full wages and benefits when the automaker eradicates work or closes factories.
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who acknowledged the buyout offers have gone away from the company, till now. Nearly 37,000 United Auto Workers (UAW) union employees had accepted Ford’s offer as part of the company’s ongoing reformation process. The automaker, which recorded a record loss of $12.7 billion in 2006 and a loss of $282 million for the 2007 first quarter, is planning to bring about an immense change. For this, Ford is in a four-year turnaround plan aiming to slash 16 plants and up to 45,000 jobs. Ford has however revealed that it has about 700 workers assured of nearly full wages and benefits when the automaker eradicates work or closes factories.For Complete IIPM Article, Click on IIPM Article
Source : IIPM Editorial, 2007
An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative
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