Podcasts & RSS Feeds
Most Active Stories
- This ballot proposal is critical to Michigan's economy, but most people won't bother to vote on it
- Don't like the water shut-offs in Detroit? Now you can pay someone's overdue water bill
- Approaching construction on the highway? Experts say the "zipper merge" can help
- Some think their immigrant ancestors were the last that should be allowed in the U.S.
- Michigan Republican Party's tactics remind me of Watergate, because both were unnecessary
Thu January 19, 2012
Ford salaried workers to get raises, bonuses
DEARBORN, Mich. (AP) - Ford is giving pay raises and bonuses to about 20,000 white-collar workers, mainly in the U.S. and Canada.
Letters sent to workers last week say they'll get 2.7 percent raises on April 1. They'll also get bonuses based on performance.
The raises are a sign that Ford is confident in its turnaround and in the U.S. economy. Ford Motor Co. made $6.6 billion in the first three quarters of last year. It reports fourth-quarter earnings this month. The company's U.S. sales rose 11 percent last year.
Spokeswoman Marcey Evans says the raises are needed to keep pay competitive with other Fortune 100 companies.
Salaried workers last got raises in 2010. Only performance bonuses were given in 2011.
Ford has made a huge turnaround since 2006, when it lost $12.6 billion.
Detroit auto show
Ford problems easy fix
Ford falls in reliability, Chrysler rises
Ford profits slightly lower