Sales keep rising at the American Automaker, and in turn, Ford employees are being taken care of. Thanks to the long running success of vehicles like Ford Explorer in Snohomish, WA, workers at several production facilities and corporate headquarters are looking at a bright, richer quarter.
According to reports, Ford is adding $3.8 billion to global pensions, and it will raise the annual pay for its 16 directors by 25%.
The company expects global funds to be fully funded the next few years, based on long-term investments and contributions. The US plan for workers was $39.4 billion by the end of last year, with plans outside the US worth $19.2 billion.
"The Dearborn, Mich., company said it gave the 16 directors a raise after finding out that they were paid less than the median level paid at similar companies. The directors are required to take $150,000 of their compensation in company stock," according to The Washington Post.1
Bickford Ford is one of many Ford dealers selling vehicles produced in this country, where employees are being taken care, on all levels of the ladder at the auto maker.