Business

Business

Ford employees to get performance bonus pay

March 6, 2008

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Even though it lost $2.7 billion last year, Ford Motor Co. will pay performance bonuses to all hourly and salaried workers in the U.S. and Canada, and to its management team around the globe, the automaker announced Wednesday.

In an e-mail message to workers sent Wednesday morning, Chief Executive Alan Mulally said the bonuses would come in paychecks this month because the company is making significant progress toward becoming profitable again.

Although Ford fell short of its market share goals in North and South America and Asia, the company met objectives in all other categories including cost performance, quality, automotive cash flow and financial results in these regions, the message said. It also met market share and all other goals in every other region worldwide.

But Mulally - who grew up in Lawrence and graduated from Lawrence High School and Kansas University - wrote that in order to meet cost objectives this year, Ford would delay payment of merit raises for salaried workers in the U.S. and Canada from April 1 to July 1. And he warned of tough times ahead this year.

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