Retire with a new car and $50K
Sep 24, 2012 / 4:46 pm
Armed with a new collective agreement ratified over the weekend, Ford is offering a $50,000 incentive to about 1,000 employees eligible for early retirement in order to recall hundreds of laid-off workers.
"We will be offering certain retirement-eligible employees an incentive to retire from the workforce to allow our employees on layoff opportunities to return to work," spokeswoman Lauren More said in an email.
The incentive available in the fourth quarter will also provide a voucher for a new car along with the standard pension program.
Ford has about 800 employees on layoff. It agreed in negotiations to investments that could create about 600 new jobs its assembly complex in Oakville, Ont.
A third shift will be added to the body, paint and pre-trim departments along with additional work that will create about 300 jobs. A new product will add more than 300 positions.
Ford's Windsor operations will also receive additional machining work, generating about 35 new openings.
The collective agreement was supported on average by 82 per cent of members who participated in a ratification vote last weekend.
Newly-hired Canadian workers will earn about $20 an hour, down from $24 an hour. It will take the new hires 10 years to reach the same wages as existing employees. They will also be converted to hybrid pension plans instead of defined benefit plans like current employees.
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