Ford offers a voluntary acquisition plan for 1,000 U.S. employees

Ford offers a voluntary acquisition plan for 1,000 U.S. employees

Ford Motor Company Global Headquarters, Dearborn, Michigan, January 19, 2021.

Aaron J. Thornton | Getty Images

Ford Motor is seeking to reclaim 1,000 paychecks nationwide, using various voluntary and seniority-based segregation packages to encourage employees to leave.

Ford first informed employees of the buyback program last month, a company spokesman told CNBC.

“We are redesigning our staff to match the skills and critical positions needed to transform our business,” a spokesman told CNBC in an email. Changing staff, including hiring and departing, is part of a multi-year process that aligns skills with our rotation and service plan and reverses our vehicle operations. “

Ford employee offers for five months or less and the purchase starts after one month. The most important incentive applies to employees over the age of 20: in addition to six months of severance pay and compensation, they also benefit from re-employment assistance for the same period.

“The Voluntary Discontinuation Scheme offers a lump sum cash separation package and some margin benefits to eligible and recognized eligible employees to resign from the company under this scheme,” the spokesperson said.

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About the Author: Cory Weinberg

Cory Weinberg covers the intersection of tech and cities. That means digging into how startups and big tech companies are trying to reshape real estate, transportation, urban planning, and travel. Previously, he reported on Bay Area housing and commercial real estate for the San Francisco Business Times. He received a "best young journalist" award from the National Association of Real Estate Editors.

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