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Ford Cuts Worker Benefits

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Ford Cuts Worker Benefits

Ford Motor Co., struggling to preserve cash amid deep losses, launched a sweeping new round of benefit cuts Wednesday for U.S. salaried workers and retirees.

The cutbacks, according to information packets distributed to workers and obtained by The Detroit News, include two especially painful measures:

The elimination of company health insurance for Medicare-eligible salaried retirees in 2008 and the suspension of merit pay raises for salaried workers next year for the first time in 13 years.

In addition, the automaker is hiking health care premiums in June 2007 for the vast majority of salaried workers by about 30 percent -- the second straight year of such increases.

The Detroit News

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ouch! Ya know, I can understand moves to lower the workforce if you just plain have too many workers... but you've gotta take care of the ones you keep! Maybe they're overpaying/overcompensating their workers? IDK, but I'm sure the workers are ticked off, and that certainly won't help quality, productivity, or process improvement.

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