Ford says job cuts ahead, offers golden handshake

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Ford says job cuts ahead, offers golden handshake
New York, Dec 22: Ford Motor Co is yet again offering the golden handshake to its workers as the company plans more job cuts.

The company is offering incentive packages to 41,000 of its workers, payouts of up to 75,000 dollars, for them to quit their jobs, said company spokeswoman Marcey Evans, adding that the offer is valid till Jan 22, 2010.

Ford still has an overhang of workers and the company was cooperating with the United Auto Workers union to solve the issue, the spokeswoman added.

She, however, refused to divulge details on the full scale of planned cuts.

Earlier this year, the US carmaker offered golden handshakes to its blue-collar workers. Only 1,000 workers took up the offer.

Even though the company is doing better than the others in the market, Ford has been severely hit by the global economic slump, which is known to have affected the automobile sector the most.

As of Oct 2009, the company's headcount in North America had reduced to 80,000 from 89,000, recorded in the beginning of the year.

In Nov 2009, the company reported a 19 per cent dip in its sales as against the sales in Nov 2008.

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