Ford Motor Co. salaried employees who were offered voluntary buyouts in North America have 45 days to accept or reject the separation package.
Ford began offering the buyout deals to an unspecified number of employees Thursday, Oct. 18.
By year end, Ford expects to reduce its white-collar ranks by as many as 5,000 employees, about 10 percent of its North American work force. Employees are being offered severance pay, pension and health care benefits, and credit toward a new-vehicle purchase. Packages vary by individual.
Ford will take a $1 billion pre-tax charge in the fourth quarter to pay for the program.
Last week, Ford CFO Martin Inglis said the company has no plan for salaried job cuts beyond the 5,000 anticipated separations.
Meanwhile, five Ford executives will retire at year end, the company said this month. They are:James Donaldson, 58, group vice president global business development, a 37-year Ford veteran.
Vaughn Koshkarian, 60, vice president Ford Asia Pacific, a 33-year Ford veteran.Michael Jordan, 54, vice president Ford Customer Service Division and president Automotive Consumer Services Group, a 30-year Ford veteran.James Yost, 52, vice president of corporate strategy, a 27-year Ford veteran.Elliott Hall, 63, vice president of dealer development, a 14-year Ford veteran.
In addition, Mark Hutchins, 56, Lincoln Mercury president, will retire in 2002 after transferring the leadership of Lincoln Mercury to Brian Kelley, 40, the unit's newly appointed chief.
Three of the positions vacated by the retirements will be filled.Kathleen Ligocki, vice president Canada and Mexico and North America Strategy, was appointed vice president strategy, business development and Canada and Mexico, effective Jan. 1. She will report to Inglis and Nick Scheele, group vice president North America.Mark Schulz, general manager of Ford of Europe operations in Turkey (Ford Otomotive Sanayi A.S.), was named a corporate vice president. He will replace Koshkarian with the title president of Ford Asia Pacific, effective Jan. 1, 2002. Schulz will report to Henry Wallace, group vice president Mazda and Asia Pacific.Brian Kelley, vice president global consumer services, was named president of Lincoln Mercury and will replace Hutchins, effective Jan. 1. Kelley will report to Wolfgang Reitzle, chairman and CEO Premier Automotive Group.
Ford also said:Lloyd Hansen, vice president controller, has been appointed vice president of revenue management, effective Nov. 1. He will report to Jim O'Connor, Ford Division president. Hansen's new position includes all of Ford's brands worldwide.Don Leclair, controller Ford North America, was named a corporate vice president, replacing Hansen, effective Nov. 1. Leclair will report to Inglis.
In addition, Ford said that in January, Hertz rental operations will report to Donald Winkler, group vice president and chairman Ford Financial.