3,500 Workers at Ex-Visteon Plants Offered Buyouts from Ford
Thu, 02/23/2006 - 2:17am
About 3,500 hourly workers, at plants Ford took back from its former subsidiary, Visteon Corp., are being offered buyout and early retirement packages.In 2005, Ford took responsibility for most of Visteon's North American factories and won United Auto Workers' (UAW) approval to cut 5,000 jobs through buyouts and early retirement.According to Della DiPietro, Ford spokeswoman, if more employees opt for buyouts the plant can continue operations and those with the longest seniority would be given the first opportunity.About 1,500 workers accepted an initial early retirement offer. Ford will now give the former Visteon workers the same buyout offers that Ford it offering workers at plants being closed in its own restructuring, as reported in the Detroit News.The buyouts are being offered to 11,900 UAW members at 11 factories that were transferred to a Ford holding company. The offers include a $100,000 buyout; half pay, health insurance and up to $15,000 in tuition per year for four years; two early retirement programs, on for those at least 55 years old with 30 years of employment and one for those who are 50 with 10 years seniority; and a preretirement program for workers with 28 years on the job.