Ford Attempts to Downsize

Ford (NASDAQ:F) has recently announced that it plans to offer retirement to factory workers in an effort to reduce the workforce. These retirement incentive packages will be offered to each of 41,000 factory workers.

Although Ford has managed to avoid seeking out federal aid and financial bankruptcy protection, it still has more employees than needed to successfully complete the job.

The specifics of the buyout package will provide those eligible to receive $50,000 plus either $25,000 credit toward a car or another $20,000 cash. Furthermore, medical benefits will also be provided for approximately six months.

For the full story visit the AP News article here