Ford announces bonuses, raises for salaried workers while GM and Chrysler wait
Ford plans to offer these 20,000 salaried workers a raise that will average 2.7%, with the actual amount being based on the individual performance of each worker in 2011. There has been less information as to exactly how much of a bonus the salaried workers in the US and Canada can expect but the Motor Company has stated that the raises are effective April 1st while the bonuses are expected to be paid in March. The last time Ford Motor Company offered both pay increases and raises in the same year was 2008 – the same year that the American automotive industry began its violent downward spiral that lead to the bankruptcy of GM and the sale of the Chrysler Group to Fiat SpA.
Due to the collapse of the industry in 2009, Ford did not offer bonuses or raises but in 2010, the company did give salaried workers merit-based raises while in 2011, Ford issued bonuses to these salaried employees.