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Ford Workers Earn Record Profit Sharing

28 January 2000

Ford Workers Earn Record Profit Sharing

    DEARBORN, Mich., Jan. 27 -- Ford Motor Company's
eligible hourly employees in the United States will receive a record average
of $8,000 in profit sharing for 1999, Ford President and Chief Executive
Officer Jac Nasser announced today.
    "For Ford, 1999 was an outstanding year and I want to thank every employee
whose dedication contributed to our success," Nasser said. "Each UAW employee
is an integral part of an inspired team."
    "We achieved record financial results in North America last year and
successfully launched great new products, including the Ford Focus, Excursion
and Taurus, the Mercury Sable and Lincoln LS," Nasser said. "We also
identified innovative ways to connect with consumers through the Internet and
e-business. We have tremendous momentum as 2000 begins."
    The amount surpasses the former record payout of $6,100 for 1998.
    For the 2,368 workers at Ford's Norfolk Assembly Plant, the average profit
sharing check means that in excess of $17 million will be plowed back into the
local economies in and around Norfolk.
    "The Norfolk team has worked conscientiously to produce the best selling
truck in the world, so it's fitting that they should reap the rewards," said
plant manager Thomas Phillips.
    This will be the 14th payment made under the company's Profit Sharing Plan
since it was first agreed to by Ford and the UAW in 1982. The total of these
averages comes to $40,575 for those 14 payments.
    Ford had approximately 103,700 active U.S. hourly workers on the rolls at
the end of 1999. Approximately 109,000 people will receive profit sharing
checks on March 3. The difference is attributable to replacement of retirees,
other attrition and new hires.
    In 1999, for the first time, only hourly workers will be covered under the
company's Profit Sharing Plan. Salaried employees will be compensated through
the Performance Bonus Plan, which went into effect in January 1999. Awards
under that plan will be distributed under a similar timetable.