Jan 19, 2012

Ford giving pay raises to 20,000 salaried workers

By Chris Woodyard, USA TODAY Updated 4h 22m ago

Ford is giving pay modest 2.7% raises and bonuses to about 20,000 salaried workers, mainly in the U.S. and Canada, the Associated Press reports.

Letters sent to workers last week say they'll get the raises starting April 1. They'll also get bonuses based on performance. It will be the first raises for salaried workers since 2010. Last year, they got bonuses.

Ford signed a contract with the United Auto Workers for its hourly workers last year that delivered bonuses, tying pay more closely to the automakers' financial performance.

AP says the raises are a sign that Ford is confident in its turnaround and in the U.S. economy. Ford Motor made $6.6 billion in the first three quarters of last year. It reports fourth-quarter earnings this month. The company's U.S. sales rose 11% last year.

Spokeswoman Marcey Evans is quoted as saying the raises are needed to keep pay competitive with other Fortune 100 companies.

Ford giving pay raises to 20,000 salaried workers