Ford expands buyout offer

DEARBORN, Mich., July 22 (UPI) -- Ford Motor Co. has expanded its hourly worker buyout program to cover 17 additional plants, the company said.

Offers of up to $140,000 are being extended to workers in 13 plants in the Metro Detroit area and four in northern Ohio, The Detroit News reported Tuesday.

As it attempts to cut production to adjust to a weak U.S. economy and the consumers' sudden interest in fuel-efficiency, Ford has also cut back on overtime to prod workers with smaller checks into accepting buy-out plans, the News reported.

Joe Hinrichs, head of global manufacturing for Ford told the News, "we are changing our operating pattern at various plants to better utilize all our people."

The plan includes full retirement benefits and $50,000 for those who accept the buyout option, although skilled workers will receive $70,000, the News reported. The company will pay $140,000 to those not accepting the retirement package, while another plan offers tuition for four years of college plus half-pay and health insurance while the worker pursues a degree.

Ford had targeted 8,000-10,000 for the third round of buyouts, which began a month ago, but only 4,200 hourly workers accepted the deal, the report said.