Ford: We Need to Stay Competitive with the Fortune 100

Ford (NYSE:F) is giving out raises and bonuses to roughly 20,000 workers. The last time employees saw raises was in 2010 and only performance bonuses were given in 2011.

Workers received letters last week stating they will get a 2.7 percent raise on April 1. Bonuses will also be handed out based on performances.

The news signals Ford is convinced they have bounced back since their loss of $12.6 billion in 2006. The company made $6.6 billion in the first three quarters of 2011 and U.S. sales rose 11 percent. They will report fourth-quarter earnings this month.

Spokeswoman Marcey Evans says the raises are necessary to stay competitive with other Fortune 100 companies such as General Motors (NYSE:GM) and Toyota (NYSE:TM).