Ford Motor Co. said on Monday it is offering its 41,000 U.S. factory workers buyouts and early retirement offers in a bid to reduce its payroll costs as it aims to return to profit by 2011.
The buyouts mark the second round of such offers for Ford workers represented by the United Auto Workers union this year. About 1,000 workers took Ford’s earlier offer in July.
While Ford was the only U.S. automaker to have avoided bankruptcy in the past year, its relative success has complicated efforts to win concessions from its major union.
Ford workers have until late January to accept the offer, which includes payouts of up to $70,000 cash for newer hires to $60,000 cash for veterans already eligible for retirement.
Click here to read more.
Briefly, we wanted to update you on where Truthout stands this month.
To be brutally honest, Truthout is behind on our fundraising goals for the year. There are a lot of reasons why. We’re dealing with broad trends in our industry, trends that have led publications like Vice, BuzzFeed, and National Geographic to make painful cuts. Everyone is feeling the squeeze of inflation. And despite its lasting importance, news readership is declining.
To ensure we stay out of the red by the end of the year, we have a long way to go. Our future is threatened.
We’ve stayed online over two decades thanks to the support of our readers. Because you believe in the power of our work, share our transformative stories, and give to keep us going strong, we know we can make it through this tough moment.
We’ve launched a campaign to raise $33,000 in the next 3 days. Please consider making a donation today.