The Detroit Free Press
reported that according to a memo to employees from Mark Fields,
Ford’s president of the Americas,
the company plans to implement once again in 2010:
- 401(k) matches starting January 1, for up to 5% of base pay,
- salaried tuition assistance for classes on or after March 1, and
- merit increases.
The actions apply to Ford’s salaried U.S. employees in the United States, Ford spokeswoman Marcey Evans told the newspaper.
Ford eliminated merit pay and other benefits in 2006 – the same year it posted a $12.6 billion loss and launched its turnaround plan. The automaker eventually lost $2.7 billion in 2007 and $14.6 billion in 2008.
Evans said the company had told workers the benefits
would be put back in when conditions improved. “The company really is committed
to providing employees with a competitive compensation package,” she said, according to the news report.
A copy of the Fields memo is available here.
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