Cutbacks at Ford will cost the company $2.4 billion this year. The costs include $1.7-billion in costs for layoffs, buyout offers and benefits that provide laid-off workers 95 percent of their regular pay, reports the Bloomberg. One package offers $15,000 per year for four years for college, full medical benefits, and half regular pay. Another package offers $100,000 cash without health benefits. The alternative would be workers going onto a program that would give them most of their regular pay while not working. Clearly, this is a long-term strategy for Ford, and it will take some time to see the benefits.
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