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Boeing delivers C-17 to RAF
DETROIT, June 28 (UPI) -- Ford Motor Co. and its largest auto parts supplier Visteon Corp. plan to offer cash bonuses of up to $35,000 to encourage older workers to retire.
Company officials would not discuss goals for the early retirement plan, but top UAW officials told the Detroit News Ford and Visteon each hoped to get 700 senior hourly plant workers to retire to make room for younger, lower-wage hires.
Ford employees who accept $35,000 buyouts would be replaced by Visteon workers under a precedent-setting, two-tier wage structure contract reached with the UAW in April. The dual wage pact expires in 2010.
Workers whose age plus years of service equaled 90 -- such as a 60-year-old with 30 years service -- by May 31 are eligible for the retirement program.
Visteon Corp. was spun off by Ford in 1999 and has not posted a profit since 2000.
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