Ford Motor looks to buy out 1,000 salaried positions nationwide, using voluntary, seniority-based severance packages to incentivize employees to resign.
Ford first notified employees of the buyout program last month, a company spokesperson told CNBC.
"We are reshaping our workforce to match the critical skills and positions needed to transform our business," the spokesperson said in an email to CNBC.Aaron J. Thornton | Getty Images is looking to buy out 1,000 salaried positions nationwide, using a variety of voluntary, seniority-based severance packages to incentivize employees to resign."We are reshaping our workforce to match the critical skills and positions needed to transform our business," the spokesperson said in an email to CNBC.
Buyouts start at one month of severance and benefits for Ford employees for five years or less. The largest incentives apply to employees of over 20 years: in addition to six months of severance and benefits, they also receive reemployment assistance for the same amount of time. "The voluntary separation program provides a lump-sum cash severance payment and certain benefits continuations for eligible employees who elect to, and are approved to, resign from the Company under the program," the spokesperson said.
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