Was told by a Ford salaried worker that his boss told him no raises for Ford salaried for next 3 years. That's how they're going to pay for the new UAW contract.
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The UAW gets theirs while everyone else gets boned.
Cynical or expectation setting.
I'm guessing the boss was just being cynical and the employee took it as a fact.
They could freeze the pension just like GM did few years ago. If you remember few years back, they reviewed the options, one of which was to freeze the other was to cap it at 35 years of service. The 35-year option won. Now with "difficult times" ahead, they could go with the option to freeze the pension. It was good while it lasted.... Oh well....
@ffm 2008-2012 was a vastly different situation. The company is still highly profitable. This agreement is arguably within expectations, I doubt there will be any impact to merit and lean against any meaningful impact to bonuses. Last year we lost $2B and employees still got profit sharing and big merit increases this year…
If they want folks to head for the exits that’s one way of going about it I guess. Still a tight labor market and plenty of descent paying options out there.
sct+1ph4z4OK anyone who was around during the 2008-2012 financial crisis times will tell you not to bank on any increases.
I find it hard to believe they would have made a decision like that this fast. It’s possible they will suspend bonuses but I think you can count on continued merit increases
Whether you get $500/month for retiree healthcare depends on when you started. If your start date is 2001 or later you get $800 per year of service. For example, if you have 20 years, you get $16,000 plus a bit of interest. It is given as a lump sum @alight when you separate from Ford. However, to qualify for even that much you need to have 10 years of service and be age 55 or older. The only good thing is Ford can't take it back once it is in your account.
You only get $500/month if you started BEFORE 2001.
I believe that Ford can pay for most of the UAW contact with further decreases in salaried positions over the life of the contract.
The test lab that I retired from has not back filled a position since I left 2 years ago. I know of 6 positions (including mine) left unfilled in my group alone. I've been told that the back log is high and in emergency situation the testing is outsourced.
Vehicle quality is not a high priority at Ford any longer.
The most trust-able company and people are our most valuable asset. Sure don't seem like it....
As a salaried employee, and all salaried retirees, get ready to “lose your healthcare”. Especially the retirees, they will take away the $500/ month and after 30 years at Ford you’re going to end up with zero ($0.0) for healthcare. How fair will that be ???? (executives will still continue to get their fat salaries and fat bonuses they won’t give anything up.)
Sounds believable. Article said there going to have to cut corners in other spots to make up the UAW money. So IF your lucky to keep your salaried job and not get laid off, for the next few years no raise for you. Plus I wouldnt doubt they will also sc--w the salaried on profit sharing, either cut it out totally, or make up some bizarre formula saying salaried people didnt meet there goals and cut the bonus down to pennies. And Ford management expects the best and brightest people to come to Ford and work under these conditions???