(autoinsidernews) - According to a UAW official, Ford Motor has told the United Auto Workers Union that it will offer buyout packages of up to $140,000 to all of its U.S. factory workers as part of its accelerated Way Forward restructuring plan. The buyouts will be offered to more than 75,000 union-represented workers in response to Ford's declining U.S. market share, reports Trend.
Ford original Way Forward restructuring plan, had taken a more limited, plant-by-plant approach with its buyouts as it attempted to cut 30,000 workers by 2012. Speculation has been building over the last month that Ford would follow General Motors' successful, company-wide buyout program offered earlier this year.
In an e-mail to UAW memebers, UAW Vice-President Bob King said the union was deeply concerned about Ford's loss of market share.
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