Ford brings back merit raises - Ford Forums - Mustang Forum, Ford Trucks, Ford Focus and Ford Cars
Ford Forum Ford Forum

» Auto Insurance
» Featured Product
ยป Wheel & Tire Center

Go Back   Ford Forums - Mustang Forum, Ford Trucks, Ford Focus and Ford Cars > Fordforums Community > Latest Ford News and Racing News > Ford Worldwide News
Register Home Forum Active Topics Photo Gallery Auto Loans Garage Mark Forums Read Auto EscrowInsurance

FordForums.com is the premier Ford Forum on the internet. Registered Users do not see the above ads.
Reply
 
LinkBack Thread Tools Display Modes
Old 02-23-2003, 16:14   #1 (permalink)
Registered User
 
Stacy94PGT's Avatar
 
Join Date: Feb 2001
Location: The Hills of North Georgia,USA
Posts: 7,859
Ford brings back merit raises

Automaker tells employees increases will resume if conditions don't get any worse.

By Mark Truby / The Detroit News

DEARBORN -- Ford Motor Co. told its 42,500-person white-collar work force this week that it will hand out merit pay increases on July 1 providing that business conditions remain stable.

The bit of good news came in welcome contrast to Ford's announcement that it was shifting more health care costs to salaried employees and retirees beginning this summer.

Ford spokeswoman Jennifer Flake said the company "made enough financial progress in 2002 to reward our employees with merit pay increases."

The automaker gave merit increases to salaried workers last year, but delayed the pay hikes for a month to save money. Also, Ford's 2,200 top-ranking managers were not eligible for pay raises last year.

Ford, which lost $980 million last year and $5.45 billion in 2001, is in the midst of an intensive cost cutting effort. The company is aiming to return to solid profitability by mid-decade.

In a note to employees, Ford North American head Jim Padilla said the company will continue to suspend the company match on 401(k) savings plans.

This year, all salaried workers will be eligible for raises except about 50 company officers at vice-president level or higher.

Ford's lower-level white-collar employees also will be eligible for modest performance bonuses, which will be paid March 14.

General Motors Corp. plans also plans to give merit increases to white collar employees this summer. Like Ford, GM delayed the raises last year to save money. DaimlerChrysler AG's Chrysler group has not made a decision regarding merit increases for this year, spokeswoman Debra Nelson said.
__________________
Stacy94PGT
My first car was a 67 Mustang Coupe, 2nd one was a 67 Cougar XR-7, 3rd one was a 66 Mustang Coupe. Why did I get rid of these cars for ? I know why, because I'm stupid, stupid, stupid.

My next Ford.....
Stacy94PGT is offline   Reply With Quote
Sponsored Links
Advertisement
 
Reply

  Ford Forums - Mustang Forum, Ford Trucks, Ford Focus and Ford Cars > Fordforums Community > Latest Ford News and Racing News > Ford Worldwide News



Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On


Similar Threads
Thread Thread Starter Forum Replies Last Post
Ford family celebrates 100 years of cars Stacy94PGT Ford Worldwide News 0 06-10-2003 05:46
FORD TOUGH: The pressure's on for Bill Ford Jr. to finish first Stacy94PGT Ford Worldwide News 0 06-10-2003 04:52
'Henry had the dream' Stacy94PGT Ford Worldwide News 0 03-28-2003 05:58
A CENTURY OF VISION: Fords built city, changed the world Stacy94PGT Ford Worldwide News 0 03-12-2003 07:17
Ford Product-Led Transformation: 2003 RPO83 Trans | Driveline 0 07-22-2002 06:48

Powered by vBadvanced CMPS v3.2.2

All times are GMT -7. The time now is 23:20.



Powered by vBulletin® Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.
Content Relevant URLs by vBSEO 3.6.0
Garage Plus vBulletin Plugins by Drive Thru Online, Inc.