FORD USA To Pay Workers a Bonus of average $8,800

[csv8]

After posting a record pre-tax profit of $8.8 billion in North America for 2013, the strongest in more than a decade, Ford announced plans to share some of the rewards with its U.S. employees.

The Blue Oval said it would pay an average of $8,800 (approximately €6,450 at today's exchange rates) to about 47,000 eligible U.S. hourly workers on March 13, 2014. That's $500 more than last year’s record payment of $8,300.

Ford noted that individual profit sharing payments might be higher or lower based on employee compensated hours.

The bonus payments are part a deal signed between the United Auto Workers (UAW) union and Ford in 2011, under which, employees forgo any substantial annual wage increases for lump-sum payments and profit sharing.

General Motors and Chrysler LLC, which agreed to similar labor contracts after their bankruptcy procedures, are also expected to announce profit-sharing checks for their hourly employees in the coming days and weeks.
http://www.carscoops.com/2014/01/for...rs-record.html
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[Bossxr8]

Yearly bonuses are quite common in the US aren't they?

[xtremerus]

Maybe something to think about here, in Oz.
After all, if the company doesn't make money, and goes broke, you don't have a job.
Think Holden, Ford AU, Toyota AU, and possibly Qantas.

[1TUFFUTE]

Originally Posted by xtremerus

Maybe something to think about here, in Oz.
After all, if the company doesn't make money, and goes broke, you don't have a job.
Think Holden, Ford AU, Toyota AU, and possibly Qantas.

we do do it here....didn't you hear holden gave all their workers a bonus....then backflipped on the terms and fired people and asked/blackmailed our govco for more money. Must feel a bit like oldschool America of recent times at holden HQ

[MercurySilver]

id give up an annual pay rise for a yearly bonus % from total company profits at my place of work in a flash....

[DanielXR8]

Originally Posted by MercurySilver

id give up an annual pay rise for a yearly bonus % from total company profits at my place of work in a flash....

I know what you are getting at, but it ceases to actually be a bonus if its used effectively as part of your annual base wage/salary as you forfeit any other means of a pay increase. The two should remain separate for a reason. A bonus implies it is above and beyond what you might normally expect.

[AdamL]

The average wages in the US are crap though. They'd still make SFA even with the bonus.

[mildxe]

but they will still be making cars unlike here so not SFA after all

[jpd80]

Originally Posted by xtremerus

Maybe something to think about here, in Oz.
After all, if the company doesn't make money, and goes broke, you don't have a job.
Think Holden, Ford AU, Toyota AU, and possibly Qantas.

It was part of an agreement that revolved around a two tier wage system, all new hires
are on roughly half the rare of existing personnel with very litle chance of increasing to that amount..

[UberKnee]

Originally Posted by AdamL

The average wages in the US are crap though. They'd still make SFA even with the bonus.

Compared to our wage yes but they have a much lower cost of living. Everythings cheaper in the states. We have high wages but retardedly high prices for everything to go along with it.

[dirtyclevo]

gee.. they give them a golden handshake but literally **** on us. nice one ford. its Allan mulally's fault, power tripping ceo's these days. did he manage to give himself a huge gift?

a la wage increase.

[FPV8U]

They are selling large numbers of cars, with improving quality and happier customers good to see Ford rewarding their workers from the ground up.

This has zero reference to Australia's closing of operations although i can hear the moaning already.

[Wretched]

Originally Posted by dirtyclevo

gee.. they give them a golden handshake but literally **** on us. nice one ford. its Allan mulally's fault, power tripping ceo's these days. did he manage to give himself a huge gift?

a la wage increase.

explain?
Their sales are up..ours down.
They're making profit...we aren't.
They're market perception is improving as is quality...ours isn't.
Our contribution to FoMoCo = negative

[dirtyclevo]

Originally Posted by Wretched

explain?
Their sales are up..ours down.
They're making profit...we aren't.
They're market perception is improving as is quality...ours isn't.
Our contribution to FoMoCo = negative

yeah i know but you have to feel for all the people affected by this.

people sometimes forget that they are an actual company. and they are in it to make a profit. if that profit isn't there they go broke or relocated. or in our case they close up local manufacturing and import.

I remember a few years ago hearing people complaining about large cars and how they aren't needed, fuel consumption blah blah blah

so what do people do! they go and buy a SUV

even the young girl across the street is learning to drive in a huge landcruiser.

[vztrt]

Originally Posted by Wretched

explain?
Their sales are up..ours down.
They're making profit...we aren't.
They're market perception is improving as is quality...ours isn't.
Our contribution to FoMoCo = negative

The quality had to improve it couldn't get any worse....its still ordinary.

[UberKnee]

Originally Posted by FPV8U

They are selling large numbers of cars, with improving quality and happier customers good to see Ford rewarding their workers from the ground up.

This has zero reference to Australia's closing of operations although i can hear the moaning already.

I knew this would be brought up, but there's a huge difference. Ford US are making record profits, Ford Aus are haemorrhaging money. You run a business to make money not lose money.

[Wretched]

Originally Posted by vztrt

The quality had to improve it couldn't get any worse....its still ordinary.

But that's the point, there is continual improvement and a commitment to continue. Ford have (hopefully) learned from past mistakes and have moved onto a better path, actually many of the US makers have.

You can't be paid a bonus for not achieving much. Just turning up to work doesn't automatically make you eligible for a pay rise.

[vztrt]

Originally Posted by Wretched

But that's the point, there is continual improvement and a commitment to continue. Ford have (hopefully) learned from past mistakes and have moved onto a better path, actually many of the US makers have.

You can't be paid a bonus for not achieving much. Just turning up to work doesn't automatically make you eligible for a pay rise.

Learned from their mistakes? Ford have been going in a cycle at least since WW2. They almost go under get someone in to fix their mismanagement then they sit on their hands till the next time they almost go under.
The only reason they didn't look like a bunch of morons during the GFC was because they were in so much crap two years before...otherwise they would have had their hand out like the other two.

[Wretched]

Originally Posted by vztrt

Learned from their mistakes? Ford have been going in a cycle at least since WW2. They almost go under get someone in to fix their mismanagement then they sit on their hands till the next time they almost go under.
The only reason they didn't look like a bunch of morons during the GFC was because they were in so much crap two years before...otherwise they would have had their hand out like the other two.

That may be the case and whether Ford repeat history only time will tell.
BUT in the current state they have done a massive turnaround and brought the company into a much healthier state; a range of world class vehicles that continue to sell well and introduce new technologies in each model revision.

Personally, I hope to see this continue well into the future and see Ford expand more into motorsports.

[Danford2]

Originally Posted by UberKnee

Compared to our wage yes but they have a much lower cost of living. Everythings cheaper in the states. We have high wages but retardedly high prices for everything to go along with it.

Exactly, I'd take a 50% pay cut if every other cost was reduced by 50%
it's all relative