As The New York Times reported, on this date in 1914:
Henry Ford, head of the Ford Motor Company, announced…one of the most remarkable business moves of his entire remarkable career. In brief it is:
To give to the employees of the company $10,000,000 of the profits of the 1914 business, the payments to be made semi-monthly and added to the pay checks.
To run the factory continuously instead of only eighteen hours a day, giving employment to several thousand more men by employing three shifts of eight hours each, instead of only two nine-hour shifts, as at present.
To establish a minimum wage scale of $5 per day. Even the boy who sweeps up the floors will get that much.
Before any man in any department of the company who does not seem to be doing good work shall be discharged, an opportunity will be given to him to try to make good in every other department. No man shall be discharged except for proved unfaithfulness or irremediable inefficiency.
Read the complete Times article.