Ford’s Average Profit-Sharing Payout Falls 16%

Ford Motor Co. said it paid an average $6,700 in profit-sharing to U.S. hourly workers, down 16% from the record amount a year earlier. The average is second only to the $8,000 paid last year for 1999 in the 18 years that the Dearborn, Mich.-based auto maker has had profit-sharing, a company spokesman said. The payments for 2000, announced in January, go to about 110,000 workers and are based on U.S. profit and sales, excluding some nonautomotive units. Ford’s earnings in 2000 fell 1.8% to $6.67 billion. Ford shares rose 4 cents to close at $29.08 on the NYSE.