Ford Motor Co. informed employees Monday afternoon that it planned to revise its just-revealed annual bonus formula for salaried workers after a backlash that triggered executive strategy meetings throughout the weekend.
The pivot includes top executives now taking a significant bonus cut.
At issue was not just a dramatic contrast between Ford and GM of what are usually routine bonuses based on company performance but also a two-tiered system at Ford between lower- and higher-level salaried workers that shocked Ford employees.