Deadline Approaches for Ford Workers to Take Buyout Offers

Time is running out for 75,000 Ford Motor Company production workers to make one of the biggest decisions they'll ever have to make: Whether or not to leave the company by taking buyout or early retirement offers.

Ford, faced with lower demand for its products, is hoping that 25,000 to 30,000 workers will take one of eight packages by a midnight deadline so it can reduce manufacturing capacity to better match demand.

Ford officials won't say how many workers have signed up for the offers so far, but they did say they're pleased with the numbers. President of the Americas Mark Fields has said the company expects fewer than 40 percent of the workers to leave.

Before the latest round of buyouts was announced, Ford had made offers to workers at a limited number of plants, including those scheduled for closure. About 5,200 workers decided to go. That means Ford needs about 20,000 more workers to take the new round of buyouts and early retirements to reach the low end of its target range.

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