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

Consumers Mixed on Economy, Finances
A July survey shows spotty sentiment of current and future conditions, in addition to demographic differences as overall opinion of present circumstances kept sliding.
Read More →
EVs Closing the European Gap
Electrified powertrains led June new-vehicle sales in Europe, reaching 26% of the market.
Read More →
Early Intervention Saves Retention
Sales and service departments have the highest annual dealership turnover rates, according to a new industry report, costing money and time that could be better spent elsewhere.
Read More →
Autos More Appealing
Consumers gave new cars better scores again this year for design, performance and more as mass-market brands kept gaining on premium lineups, JD Power found in an annual poll.
Read More →
Used EVs Defy Overall Market
While the used-car market saw three months of price declines or stagnation, the used EV segment did the opposite – rising for three straight months.
Read More →
Trade-Ins in Negative Equity Reach New Heights
As such trade-ins rise in frequency, so do monthly loan payment amounts and interest rates, according to second-quarter data compiled by Edmunds.
Read More →
Gone to the Dogs
A Stellantis brand decided to have some fun with one of its SUVs’ design to address growing emphasis on family pets.
Read More →
OEM Poll Sees Industry Evolution
Kerrigan Advisors’ survey of automakers finds that tariffs, technology, network tightening and other factors are poised to reshape auto retail.
Read More →
Luxe N.C. Dealerships Change Hands
A collection of Italian and English brand franchises were handed off to the owner’s friend in the business and include the Carolinas’ only Ferrari retail stores.
Read More →
Exposure Drives Interest in Chinese Cars
At a recent demonstration, consumers had the chance to ride in a Chinese-branded vehicle, a firsthand experience that improved their perceptions and purchase intent.
Read More →