Ford Reinstates Benefits for Salaried Employees
DETROIT — Thousands of Ford Motor Co.'s U.S. salaried employees have been notified that merit pay increases, tuition reimbursement and 401(k) contributions are slated to be offered again next year, reported The Associated Press.
Ford had cut the benefits as it careened through three years of losses that topped $30 billion between 2006 and 2008. But things have been turning up for Ford.
The Dearborn, Mich., automaker posted a $1.8 billion profit through September. And on Thursday, Mark Fields, Ford's president of the Americas, sent an e-mail to employees saying Ford would:
Reinstate 401(k) matches starting Jan. 1;
Reinstate salaried tuition assistance for classes starting on or before March 1;
Reinstate merit pay increases.
Ford spokeswoman Marcey Evans said those merit increases would be paid April 1.
The majority of Ford's 21,300 salaried employees in North America work in the United States, but the automaker does not provide numbers by country.
After enjoying a string of victories over the past year, including a $1.8 billion profit through September, Ford Motor Co. made a move that would make founder Henry Ford proud.
Ford Motor Co. told U.S. salaried employees Thursday that it would restore a variety of compensation perks, such as merit pay, tuition reimbursement and 401(k) matches.
More Industry

World EV Adoption Set to Grow
A new report says the segment, despite recent setbacks in some regions, is poised for acceleration as many countries look to reduce pollution.
Read More →
Black Book: Weekly Market Update
Wholesale automotive auction business stayed steady last week as bidders encountered lower prices, analysts observed.
Read More →
Pricing Transparency Drives Purchase Consideration
An annual study by JD Power found that clear pricing matters to consumers on automaker websites, so much so that it increases their purchase consideration.
Read More →
Black Book: Weekly Market Update
Used-vehicle market depreciation was the prevailing story in the wholesale market last week.
Read More →
Smaller Is Looking Better
A growing number of Americans in the market for a new vehicle are opting for more affordable options, not waiting for market stability to bite the bullet.
Read More →
U.S. EV Market Slowly Stabilizes
U.S. electric-vehicle interest is slowly stabilizing since a major dip in sales after last year's end of the federal EV tax credit, and hybrids remain the leading electrified power train.
Read More →
Global EV Market Entering New Phase
Automakers are making investments to lower battery costs and optimize production to meet changing consumer needs.
Read More →
Black Book Weekly Market Update
The holiday weekend, not surprisingly, put a drag on wholesale automotive activity last week, analysts observed.
Read More →
Auto Affordability in Context
Cox Automotive points out the complex circumstances that have led to eye-popping vehicle prices.
Read More →
Black Book: Weekly Market Update
Automotive auction inventory increased last week, giving choosy bidders even more leeway.
Read More →