Ford announced on Thursday that about 1,000 UAW members accepted buyouts last quarter, bringing the Michigan automaker close to its ideal level of employment. Ford’s now employs about 47,000 UAW workers, down from 95,000 in 2003.
Ford has yet to announce an official departure date for the 1,000 UAW members that accepted the buyout offer, but Ford spokesman Mark Truby said the workers would be exiting the company “in the next few weeks”. Ford’s UAW workers had until June 26 to accept the buyout offer.
With the latest round of buyouts now complete, Ford CEO Alan Mulally says no more cuts are planned. “We’re about right,” Mulally told Automotive News.
However, Ford will likely continue negotiations with the UAW. Chrysler and General Motors were able to ink new agreements with the UAW through their bankruptcy filings – including the suspension of bonuses and cost-of-living adjustments – and it is expected that Ford will seek similar terms.
Ford ended the second quarter with an operating loss of $424 million, but posted a net profit of $2.3 billion.
