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Ford to offer sweeping buyout offer: union official
Thu Sep 14, 2006 3:30 PM ET
DETROIT (Reuters) - Ford Motor Co. has offered buyouts to more than 75,000 union-represented factory workers in an attempt to cut costs in response to a declining share of the U.S. auto market, the United Auto Workers said in an e-mail to members today.
The buyout packages, which include early retirement incentives, are also being extended to union-represented workers at Automotive Components Holdings, a group of factories formerly held by Visteon Corp., Ford's former parts unit.
In the e-mail, which was provided to Reuters by a union official, UAW Vice President Bob King said the union was "deeply concerned" about Ford's loss of market share.
Ford had taken a more limited, plant-by-plant approach to its attempt to cut 30,000 workers from its payroll by 2012, but expectations had been building over the past month that the No. 2 automaker would follow the successful, company-wide buyout program offered earlier this year by General Motors Corp.
Details of the Ford plan were being readied for distribution to UAW-represented workers at Ford, the official said.
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