November 30, 2006

Ford confirms 38,000 hourly workers have accepted buyout packages

Dearborn, Michigan – Ford Motor Company has confirmed that about 38,000 of its UAW-represented hourly workers have accepted package offerings for voluntary separations. The buyouts are part of the company’s North American turnaround plan, which includes a reduction of between 25,000 and 30,000 employees by the end of 2008.

The figure includes approximately 30,000 buyout offers preliminarily accepted during the system-wide open enrollment period, which included workers at the company’s Automotive Components Holdings (ACH) division, and about 8,000 acceptances received earlier in 2006 during targeted plant-by-plant buyout offerings to Ford and ACH. Approximately 6,000 of the 38,000 total acceptances are by hourly employees at ACH. The company had about 83,000 UAW-represented employees at the beginning of 2006.

The acceptances are preliminary, as all buyout offers are voluntary, and include an opportunity for the employee to rescind acceptance up until the time of their separation from the company. Those who accepted will leave the company between January and September 2007.

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