| Ford Motor Co. will be offering buyouts or early | | | | has earlier publicized its intention to cut |
| retirement packages to its 75,000 hourly-paid | | | | approximately 30,000 hourly jobs and 14,000 |
| employees. The offer will be available to said | | | | salaried jobs by the end of 2008. Said cut will trim |
| employees starting Oct. 16. Moreover, salaried | | | | down Ford's total North American work force by |
| workers are given more than one chance to | | | | 29 percent. From about 130,000, current work |
| accept a buyout. However, employees who are | | | | force, it will be reduced to about 92,000.Mulloy |
| represented by the United Auto Workers union | | | | refused to divulge the number of workers who |
| must have decided before Nov. 27. After said | | | | are expected to take a buyout package. |
| date, they can no longer claim the option to | | | | However, he said that the buyouts will take |
| choose either one of eight buyout programs or | | | | effect next year. Ford will begin with the briefing |
| stay on with Ford.The programs to be offered by | | | | with employees on Tuesday. The briefing will be |
| Ford comprise lump-sum payments of up to | | | | about their eligibility for a range of early |
| $140,000 as well as reimbursement of tuition | | | | retirement incentives. Mulloy also noted, "Most |
| besides the traditional early-retirement packages. | | | | people will start leaving after the first of the |
| The Dearborn-based automaker, which is famous | | | | year."Those employees who will accept buyouts |
| for its best-selling Ford F-Series pickup parts and | | | | are expected to leave Ford by the end of |
| trucks, have started its educational workshops | | | | September next year. This fact was announced |
| and career fairs. This is done to lend a hand to | | | | to the media by Marcey Evans, spokeswoman of |
| blue-collar workers in weighing available career | | | | the automaker.Jay Stevens works as a consultant |
| options."We've put what we think is a very | | | | for an established auto parts store in the country. |
| generous offer on the table," Martin Mulloy, Ford's | | | | He has expertise in automotive technology and |
| vice president of labor relations, said Monday. "We | | | | has extensive knowledge on the auto parts |
| want to make sure each employee has the best | | | | industry. You can visit Ford F-Series pickup parts |
| information available to make that decision."Ford | | | | for more information. |