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As GM considers bankruptcy, Ford is offering more time to workers who may be considering a buy out package. Jesse Russell reports:

Ford workers mulling over the buy out option are being offered more time to make that decision. The buyout package has been offered to nearly all of the company’s 42,000 hourly employees and the extension will now give them until June 26 to take the option. General motors could file for bankruptcy as early as next week and if it does it could have an impact on Ford. The buyout package is small in comparison to previous packages offered to workers by the company. It offers a lump sum payment of $40,000 to skilled workers eligible for retirement and $20,000 to those in production. Workers who have at least one year of service, but aren’t eligible for retirement could accept either a $50,000 lump sum payment or a education package that offers $15,000 in tuition assistance and living expenses for two-years. All workers who take a buyout would receive a $25,000 voucher for a new Ford.