Ford: 38,000 Workers Have Taken Buyouts

[PassingFair]

http://www.cbsnews.com/stories/2006/11/29/ap/business/mainD8LMPUCO0.shtml

I live in Michigan

:scared:

I am SICK.

[terip64]

1. Me too. Thank God Granholm won or I would be considering moving...n/t

[bluestateguy]

2. If you are nearing retirement, with seniority and have money in savings it's a good deal

The more people that take the deal, the fewer layoffs there will be.

[PassingFair]

3. Plant closings.

38,000 jobs GONE. I don't know how many in Michigan itself.

Add how many THOUSANDS in supplier companies like American Axle
(6,000 buyouts expected) and GM.

How many job losses can we absorb.

How many home foreclosures.

Those $140,000 buyouts won't last a LIFETIME, you know.

And they won't pay off everyone else's homes.

We are in TROUBLE.

[Roland99]

6. These essentially are layoffs, permanent ones. And no way in hell 46% of Ford was nearing retirement

Where are these people going to find jobs comparable to what they had? Those buyouts won't last long.

[ingac70]

9. I'm taking a buyout.....

100k, the only bill I have is my house, and my husband makes more than enough to take care of that. I'm starting trade school for HVAC-R in Jan....

Half of my plant signed up to leave, and 70% are not retirment eligible. Even when Ford was making money they talked to us like dogs, and management is loaded with total idiots. Most have decide less money is better than needless BS and stress.

[Kolesar]

4. Discharge 46% of employees to deal with market share dropping to 14-17%

That sounds out of balance. I recall that Ford had enough plants and employees for ~20% of market share. I would have expected Ford to discharge about a quarter of the employees, not 46%.

[PassingFair]

5. I don't think they plan on building much of ANYTHING

in this country anymore.
I wonder what is up with the
plans for their eco-friendly
super-plant.

[durtee librul]

7. Ford just also

mortgaged ALL their plants to raise $18B in cash.

I work for Chrysler and heard today that Collins and Aikman is out of business and that someone is bailing them out. Many of our guys are going to work over the holidays to ease the transition and help keep the plants afloat with whoever the new owner(s) are.

C & A is a HUGE company with plants all over this country.

As I work in Supplier Development (Advanced Quality Specialist), I can tell you ALL the suppliers are hurting and hurting bad. Ford's policy of buying 'x' amount of content (forced under the purchase order) from 'low cost' countries ain't helping out either. Bill Ford is the ultimate terrorist in my book. The guy is as bad as Bush is at running and ruining businesses.

My hubby is retired Chrysler and he took a buyout a few years back, but his is a guaranteed pension with complete bennies for life plus he got a car voucher and a cash stipend. We were lucky...nowdays, buyouts aren't for the worker, they are for the company. We only just now need to hope that Chrysler don't go belly up and with Tom LaSorda running it, I think it's just a matter of time before he screws up, especially after what he pulled this last quarter.

[PassingFair]

8. Guess that meeting with Dubya

...didn't go too well.

We are *ucked.

[ingac70]

10. That plant is safe.....

At least until Ford no longer is in business at all.