Ford would pay bonuses despite posting massive losses

Ford would pay bonuses despite posting massive losses

US based auto giant Ford Motor has announced that they would pay bonuses this year despite posting massive losses.

The bonuses would be paid to all of its employees in North America. This would include $1,000 payouts to hourly workers.

Ford had posted massive losses of $2.7 billion in the last year.

Ford Chief Executive Alan Mulally wrote in a message to company workers: “While we fell short of our market share goals in the Americas and Asia, we fully met or exceeded our objectives in every other category, namely cost performance, quality, automotive cash flow and financial results.”

He added: “While 2007 was a year of progress, the economic and business environment will be tougher than ever in 2008.”