UAW-represented factory workers at Ford Motor Co. have begun receiving $50,000 buyout offers under the company’s 2024 retirement incentive program.
The window for eligible employees to sign up for the special program began Monday and runs through March 1, Ford spokeswoman Jessica Enoch confirmed to the Detroit Free Press.
The program will provide a gross (pretax) lump-sum incentive payment of $50,000 for eligible skilled trade and production employees who retire during 2024, she said. There is no limit to the number of eligible employees who may participate.
To qualify, union members must have:
30 years of service at any age, or
55 years old with 10 years of service, or
65 years old with 1 year of service
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