Buyout packages ???

[H. D. Hogman]

When is Ford Motor Company going to announce the buyout packages ??? The only thing I have seen is what the local newspaper has been saying... Our union came out with a flyer only stating production is getting $50,000 and skilled trades $70,000 an more packages will be announced at a later date. From what I have been hearing is that they are coming out with more packages.

[whereswaldo]

When is Ford Motor Company going to announce the buyout packages ??? The only thing I have seen is what the local newspaper has been saying... Our union came out with a flyer only stating production is getting $50,000 and skilled trades $70,000 an more packages will be announced at a later date. From what I have been hearing is that they are coming out with more packages.

I believe its Feb 19-Mar 18th........

[H. D. Hogman]

I believe its Feb 19-Mar 18th........

Is'nt that the sign up dates ???

[hendew_15]

All HR managers have a conference call today about the announcements of the buyouts.So maybe this afternoon or first thing tommorrow they will be officially announced.

[mjpetersmd]

When is Ford Motor Company going to announce the buyout packages ??? The only thing I have seen is what the local newspaper has been saying... Our union came out with a flyer only stating production is getting $50,000 and skilled trades $70,000 an more packages will be announced at a later date. From what I have been hearing is that they are coming out with more packages.

here at ktp we are having a meeting feb.14 with people from union and company coming down from detroit to explain buyouts

[Local1111]

 

 

[butthead]

Just wondering about the last sentence of parg. 2. Could the company keep you past the June date lets say to Sept or Dec.

 

Will it be possible to stay longer to grow into one of the packages if its mutually agreed on?

[Local1111]

Just wondering about the last sentence of parg. 2. Could the company keep you past the June date lets say to Sept or Dec.

Will it be possible to stay longer to grow into one of the packages if its mutually agreed on?

I would guess it depends on what your job is, and where your located.

Examples: If you have a high demand Trades job in an ACH plant, they might keep you til plant closing, or as stated til June. If your a production worker in an ACH plant or a Ford plant, probably not. They need to clear slots for flowback, and to reduce costs in the ACH plants as soon as possible. I would also expect them to tell you yes, but subject to change too.

 

Good Luck to everyone, once again, these are hard personal decisions. Everyone is different and it's quite a smorgasbord.

/edit: Oh, the grow in... like last time til Sept 1, 07?, From what I heard from Management there would be NO grow in this time around. Just the 28 year bridge would work that way (PRLP).

Edited February 6, 2008 by Local1111

[Hard-Drivin' Man]

All HR managers have a conference call today about the announcements of the buyouts.So maybe this afternoon or first thing tommorrow they will be officially announced.

 

Yeah, Jimmy the Cleaner(I'm serious), told me today that there would be a meeting in the cafeteria(Saline/ACH) on Friday with International to review buyout offers and answer questions. Buyouts would be offered starting next week. Just a rumor at this point though. We're getting close boyz...

[rn4]

From KCAP website

Employee Buyouts

 

There will be a sign-up conducted from Tuesday, February 19, 2008 through Tuesday, March 18, 2008 in Hourly Personnel or Labor Relations for employees interested in applying for special retirement incentives or buy-out packages. The UAW-National Ford Department has advised us they will have a representative available at KCAP to explain the options being offered on Thursday, February 21, 2008. Certain times will be scheduled for meetings to explain the buy-outs and they will be held in the Executive Garage. Interested employees should try to attend.

 

Unlike the previous buy-outs, selection is irrevocable. This means that employees who are signed up for buy-out packages at the completion of the sign-up period will be required to take the buy-out package requested if approved.

 

Employees will not be allowed to sign off or decline the buy-out offer after the completion of the sign-up period, March 18, 2008. They may be taken off rolls and released from employment as soon as April 1, 2008. Employees that become eligible for a buy-out package or retirement incentive option after the sign-up period and by December of 2008 will be considered, providing they have properly requested the option during the sign-up period, the same 8 options will be available as in the most recent offering.

 

However, the Special Retirement Incentive (SRI) option has been enhanced to provide an exit bonus of $15,000 (non-skilled) $35,000 (Appendix F skilled) in addition to the $35,000 retirement incentive bonus offered previously. Employees who retired or are retiring between the buy-out periods, October 1, 2007 through February 1, 2008, may be eligible for these bonuses retroactively, providing their retirement was not related to previous retirement/buy-out offers taken.

[scmustang]

an additional package is under review pending the outcome of the sign up window. that item being considered involves those with a break in service. that item, which has not been finalized, would involve those who achieved a minimum of 12 mos with the company prior to their break in service. those who meet that criteria would then be awarded an additional 10 years. then those individuals who qualify can enlist in the program which covers those employees who have at least 28 years but not yet 30. again the package is merely under consideration pending the outcome of the sign up window.

[fantasyfrank]

an additional package is under review pending the outcome of the sign up window. that item being considered involves those with a break in service. that item, which has not been finalized, would involve those who achieved a minimum of 12 mos with the company prior to their break in service. those who meet that criteria would then be awarded an additional 10 years. then those individuals who qualify can enlist in the program which covers those employees who have at least 28 years but not yet 30. again the package is merely under consideration pending the outcome of the sign up window.

Where are you getting your info from on this additional package. So are you saying if Ford dosen't get the results they want with the buyouts that this will be offered?

[Captain723]

Where are you getting your info from on this additional package. So are you saying if Ford dosen't get the results they want with the buyouts that this will be offered?

Isn't this what was said all along.....

They have actually been meeting with the company all week over a lot of these issues!! Hopefully they will have some answers for everyone early next week!! They still have to get the company to buy into this.

[fantasyfrank]

Isn't this what was said all along.....

They have actually been meeting with the company all week over a lot of these issues!! Hopefully they will have some answers for everyone early next week!! They still have to get the company to buy into this.

Yes, you are right...we've been saying this all along. I was trying to see if this person had reliable info. Sometimes you find out somebody knows somebody that knows somebody and that somebody talked with somebody who really knows nothing...I'm not making sence. I'm putting down the crackpipe.....my bad.

[mjpetersmd]

an additional package is under review pending the outcome of the sign up window. that item being considered involves those with a break in service. that item, which has not been finalized, would involve those who achieved a minimum of 12 mos with the company prior to their break in service. those who meet that criteria would then be awarded an additional 10 years. then those individuals who qualify can enlist in the program which covers those employees who have at least 28 years but not yet 30. again the package is merely under consideration pending the outcome of the sign up window.i was laid off from 1980 to 1986.they have me with 26 years credit service.if they gave me my layoff time back i would have 31.2 years.under what your saying they will give me back 2 years for 28 then take the package.there is other members that got back all there time and getting the 50,000 package to leave.ford still got some explaining to do!!!

[mjpetersmd]

sorry put my reply in the last post

[butthead]

From KCAP website

Employee Buyouts

 

There will be a sign-up conducted from Tuesday, February 19, 2008 through Tuesday, March 18, 2008 in Hourly Personnel or Labor Relations for employees interested in applying for special retirement incentives or buy-out packages. The UAW-National Ford Department has advised us they will have a representative available at KCAP to explain the options being offered on Thursday, February 21, 2008. Certain times will be scheduled for meetings to explain the buy-outs and they will be held in the Executive Garage. Interested employees should try to attend.

 

Unlike the previous buy-outs, selection is irrevocable. This means that employees who are signed up for buy-out packages at the completion of the sign-up period will be required to take the buy-out package requested if approved.

 

Employees will not be allowed to sign off or decline the buy-out offer after the completion of the sign-up period, March 18, 2008. They may be taken off rolls and released from employment as soon as April 1, 2008. Employees that become eligible for a buy-out package or retirement incentive option after the sign-up period and by December of 2008 will be considered, providing they have properly requested the option during the sign-up period, the same 8 options will be available as in the most recent offering.

 

However, the Special Retirement Incentive (SRI) option has been enhanced to provide an exit bonus of $15,000 (non-skilled) $35,000 (Appendix F skilled) in addition to the $35,000 retirement incentive bonus offered previously. Employees who retired or are retiring between the buy-out periods, October 1, 2007 through February 1, 2008, may be eligible for these bonuses retroactively, providing their retirement was not related to previous retirement/buy-out offers taken.

 

Any idea who would make the call to let someone sign up for the SRI option and be allowed to grow into it until Dec. of 08. Would it be the Company the UAW or both.

[Captain723]

Any idea who would make the call to let someone sign up for the SRI option and be allowed to grow into it until Dec. of 08. Would it be the Company the UAW or both.

Both and I was told (I had to do that...waldfk hates it) that they are working on a plan that would allow you to grow into a package!!!!

[Hard-Drivin' Man]

Any idea who would make the call to let someone sign up for the SRI option and be allowed to grow into it until Dec. of 08. Would it be the Company the UAW or both.

 

 

Ahhh yes, you gotta love the speculation. Look at us. What a bunch of dreamers!

 

Check this out ;-) I'm not sure if I worked for a full 12 consecutive months prior to the Big Chill. So, I may miss out on getting 10 years seniority back. Nice!

 

Also, if they let people sign-up now, but grow-in thru December of 2008, then I would miss the 50 and 10 deal by less than 3 months. I turn 50 next March. Nice!

 

I gotta start going to church!

[Captain723]

Ahhh yes, you gotta love the speculation. Look at us. What a bunch of dreamers!

 

Check this out ;-) I'm not sure if I worked for a full 12 consecutive months prior to the Big Chill. So, I may miss out on getting 10 years seniority back. Nice!

 

Also, if they let people sign-up now, but grow-in thru December of 2008, then I would miss the 50 and 10 deal by less than 3 months. I turn 50 next March. Nice!

 

I gotta start going to church!

LOL!!! Hang in there....I beleive everything happens for a reason!! Good luck!

[mjpetersmd]

LOL!!! Hang in there....I beleive everything happens for a reason!! Good luck!

if i get my time back i will have 31.2 years.if this package comes up i would miss out on the 50,000 package.people with less time then me got all their time back and will get the 50,000 package.first ford will have to explain why some did and some did't get lost time back before i decide what to do.

[Local1111]

http://biz.yahoo.com/ap/080208/ford_plant_sales.html?.v=1

 

Ford Offers $140K at ACH Some Workers

Friday February 8, 5:17 pm ET

By David Runk, Associated Press Writer Ford Offers $140K to Workers at ACH Operation That's Being Sold

 

DETROIT (AP) -- Ford Motor Co. said Friday it is offering some workers at a Monroe-based operation that makes vehicle driveshafts $140,000 if they leave the automaker to take jobs with the new owner of the business.

 

The offers could be seen at other Automotive Components Holdings LLC plants that Ford hopes to sell.

 

"It is an approach that could be considered at other plants, assuming ratification of a competitive bargaining agreement between the UAW and the buyer, and the successful completion of the sale," ACH spokeswoman Della DiPietro said.

 

The Monroe operation is part of ACH, which Ford created in 2005 to manage 17 plants that Ford reacquired from a struggling Visteon Corp. as part of a bailout agreement for the supplier. Ford spun off Visteon in 2000.

 

Last month, Dearborn-based Ford announced that officials had signed a deal to sell the driveshaft business to Pottstown, Pa.-based Neapco LLC, which is affiliated with the China-based Wanxiang Group.

 

Neapco plans to open a plant in Wayne County's Van Buren Township, where about 300 employees of the driveshaft unit will be offered jobs. DiPietro said about 700 Monroe employees represented by the United Auto Workers union are eligible for the $140,000 offer, and they have until next week to make up their minds.

 

If they take the offer, DiPietro said, the workers will get the payment over a two-year period. They also would take a new job with Neapco under a labor agreement between the UAW and Neapco.

 

The 700 Monroe workers also may chose among a variety of offers for buyouts or to flow back to Ford, DiPietro said.

 

Also Friday, a UAW local representing workers at an ACH facility in Saline said in an e-mail update to members that a similar $140,000 offer was possible if a deal is reached with auto parts maker Johnson Controls Inc.

 

"We are progressing but at a slow pace," the e-mail from UAW Local 892 said.

 

Messages seeking comment were left Friday with the UAW local and a spokeswoman for Johnson Controls.

 

In November, Milwaukee-based Johnson Controls said it had reached a nonbinding agreement with Ford to buy the interiors factory that employs about 1,350 workers in Saline, about 40 miles west of Detroit.

 

At the time, Johnson Controls said the deal was contingent on negotiating a competitive labor agreement with the UAW, as well as resolution of other issues to make the plant more competitive.

[Captain723]

if i get my time back i will have 31.2 years.if this package comes up i would miss out on the 50,000 package.people with less time then me got all their time back and will get the 50,000 package.first ford will have to explain why some did and some did't get lost time back before i decide what to do.

???? I guess I do not understand...I thought that you said that you will have 30yrs in later this month...you may be able to grow into a package up to Dec. 1st!!

[Local1111]

8,000 jobs to be cut at Ford

 

Total of hourly reductions since '05 may hit 44%

February 9, 2008

 

By SARAH A. WEBSTER

 

FREE PRESS BUSINESS WRITER

 

About 8,000 autoworkers still must go at Ford Motor Co.

 

That is the internal target for Ford's latest job-reduction program for hourly workers, according to people familiar with the objective.

 

 

 

If Ford reaches its goal, the automaker will have cut 44% of its North American hourly jobs in three years. That dramatic decline, combined with job cuts at General Motors Corp. and other auto firms, has been a punch to Michigan's housing market and mood about the future. Under the latest right-sizing effort, Ford, which has been restructuring its money-losing North American operations since January 2006, is offering hourly workers who voluntarily leave a variety of buyout and early-retirement packages.

 

Under one package, for example, retirement-eligible workers who volunteer to leave the company and forgo all benefits, except accrued pension, can receive $140,000.

 

The window to accept a deal opens for most of Ford's hourly workers Feb. 18 and ends March 17. Workers at a few plants that have closed under Ford's restructuring -- St. Louis, Atlanta, Norfolk, Va., and Edison, N.J. -- have been eligible for a deal since Jan. 22. They must decide by Feb. 28 whether they will leave.

 

Informational meetings are being scheduled to educate workers about why they should take the latest, boosted offers, which have been sweetened for workers who met certain conditions.

 

For example, skilled-trades workers, who generally make a higher salary than other autoworkers, previously were offered an early-retirement package that included a lump-sum payment of $35,000 and other benefits. But that payment has been bumped up to $70,000.

 

At a parts plant in Saline, which Ford is in the process of selling to Johnson Controls Inc., three educational sessions on the buyouts will be held Tuesday, according to the Web site for UAW Local 892.

 

Since 2005, Ford has reduced its hourly workforce by 36%, or 35,500 workers, through early-retirement and buyout offers. Those workers who remain on the job, then, have already passed on a deal, making this latest deal a tougher sell.

 

Several of those workers told the Free Press they were not interested in taking a deal.

 

"I'm not considering it," said Joe Fabrizio, 36, a married father of two. Even though his younger brother, Jason, took a buyout last year, Fabrizio said he wants to retire from Ford, just like his father did last year.

 

Tony Monteleone, 43, a worker at the Dearborn Truck Plant, said Ford has been offering buyouts and early retirements for so long that there are plenty of horror stories circulating through the plants about workers who took a deal, blew all their money and are now struggling to make ends meet.

 

"They can't even find a job," he said.

 

As of Dec. 31, Ford had 57,900 hourly workers in its Ford operations and 6,100 in its parts-making subsidiary, Automotive Components Holdings, LLC. That was founded in 2005 as a temporary business unit to sell or otherwise dispose of facilities formerly owned by Ford's spinoff, Visteon Corp.

 

But given the sour U.S. economy, which automakers and analysts expect to be a drag on auto sales for at least the first half of 2008, Ford decided last year that it needed even fewer workers and would need to cut deeper.

 

"We will continue to reduce our employment consistent with our restructuring to operate at the lower demand over the next few years," Ford Chief Executive Officer Alan Mulally said in November.

 

Many analysts have assumed that Ford is reducing its hourly employment to take advantage of its new 4-year labor contract with the UAW. Under that deal, the automaker can pay new workers a starting rate of $14.20 per hour, or about half the salary of outgoing workers.

 

The lower wage will be limited to about 20% of Ford's total UAW workforce.

 

However, Mulally said in late January that it's not clear whether departing workers will be replaced in these tough times.

 

"We just don't know," he told the Free Press after the automaker released its preliminary financial results for 2007. After losing a record $12.6 billion in 2006, Ford reported a net loss of $2.7 billion last year.

 

Under Ford's turnaround plan, the automaker aims to be profitable by 2009.

[Captain723]

8,000 jobs to be cut at Ford

 

Total of hourly reductions since '05 may hit 44%

February 9, 2008

 

By SARAH A. WEBSTER

 

FREE PRESS BUSINESS WRITER

 

About 8,000 autoworkers still must go at Ford Motor Co.

 

That is the internal target for Ford's latest job-reduction program for hourly workers, according to people familiar with the objective.

 

 

 

If Ford reaches its goal, the automaker will have cut 44% of its North American hourly jobs in three years. That dramatic decline, combined with job cuts at General Motors Corp. and other auto firms, has been a punch to Michigan's housing market and mood about the future. Under the latest right-sizing effort, Ford, which has been restructuring its money-losing North American operations since January 2006, is offering hourly workers who voluntarily leave a variety of buyout and early-retirement packages.

 

Under one package, for example, retirement-eligible workers who volunteer to leave the company and forgo all benefits, except accrued pension, can receive $140,000.

 

The window to accept a deal opens for most of Ford's hourly workers Feb. 18 and ends March 17. Workers at a few plants that have closed under Ford's restructuring -- St. Louis, Atlanta, Norfolk, Va., and Edison, N.J. -- have been eligible for a deal since Jan. 22. They must decide by Feb. 28 whether they will leave.

 

Informational meetings are being scheduled to educate workers about why they should take the latest, boosted offers, which have been sweetened for workers who met certain conditions.

 

For example, skilled-trades workers, who generally make a higher salary than other autoworkers, previously were offered an early-retirement package that included a lump-sum payment of $35,000 and other benefits. But that payment has been bumped up to $70,000.

 

At a parts plant in Saline, which Ford is in the process of selling to Johnson Controls Inc., three educational sessions on the buyouts will be held Tuesday, according to the Web site for UAW Local 892.

 

Since 2005, Ford has reduced its hourly workforce by 36%, or 35,500 workers, through early-retirement and buyout offers. Those workers who remain on the job, then, have already passed on a deal, making this latest deal a tougher sell.

 

Several of those workers told the Free Press they were not interested in taking a deal.

 

"I'm not considering it," said Joe Fabrizio, 36, a married father of two. Even though his younger brother, Jason, took a buyout last year, Fabrizio said he wants to retire from Ford, just like his father did last year.

 

Tony Monteleone, 43, a worker at the Dearborn Truck Plant, said Ford has been offering buyouts and early retirements for so long that there are plenty of horror stories circulating through the plants about workers who took a deal, blew all their money and are now struggling to make ends meet.

 

"They can't even find a job," he said.

 

As of Dec. 31, Ford had 57,900 hourly workers in its Ford operations and 6,100 in its parts-making subsidiary, Automotive Components Holdings, LLC. That was founded in 2005 as a temporary business unit to sell or otherwise dispose of facilities formerly owned by Ford's spinoff, Visteon Corp.

 

But given the sour U.S. economy, which automakers and analysts expect to be a drag on auto sales for at least the first half of 2008, Ford decided last year that it needed even fewer workers and would need to cut deeper.

 

"We will continue to reduce our employment consistent with our restructuring to operate at the lower demand over the next few years," Ford Chief Executive Officer Alan Mulally said in November.

 

Many analysts have assumed that Ford is reducing its hourly employment to take advantage of its new 4-year labor contract with the UAW. Under that deal, the automaker can pay new workers a starting rate of $14.20 per hour, or about half the salary of outgoing workers.

 

The lower wage will be limited to about 20% of Ford's total UAW workforce.

 

However, Mulally said in late January that it's not clear whether departing workers will be replaced in these tough times.

 

"We just don't know," he told the Free Press after the automaker released its preliminary financial results for 2007. After losing a record $12.6 billion in 2006, Ford reported a net loss of $2.7 billion last year.

 

Under Ford's turnaround plan, the automaker aims to be profitable by 2009.

Wow....you lost me after the second sentence!!