DEARBORN, Mich. (AP) — Ford is giving pay raises and bonuses to about 20,000 white-collar workers, mainly in the U.S. and Canada.
Letters sent to workers last week say they'll get 2.7 percent raises on April 1. They'll also get bonuses based on performance.
The raises are a sign that Ford is confident in its turnaround and in the U.S. economy. Ford Motor Co. made $6.6 billion in the first three quarters of last year. It reports fourth-quarter earnings this month. The company's U.S. sales rose 11 percent last year.
Spokeswoman Marcey Evans says the raises are needed to keep pay competitive with other Fortune 100 companies.
Salaried workers last got raises in 2010. Only performance bonuses were given in 2011.
Ford has made a huge turnaround since 2006, when it lost $12.6 billion.
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