Ford Motor Company
The United Auto Workers (UAW) are planning to present the changes to the existing four year contract that they have with Ford Motor Company to the National Ford Council today. Details have not been released, but the new agreement, if approved, will go to a member vote.
A source has confirmed that the agreement will outline wage freezes for new hires, a one-time bonus, a no-strike provision for contract expiration’s, and production commitments.
Up until the recent bankruptcy filings at both General Motors and Chrysler, the UAW has held similar contract agreements with the big three American automakers. This has forced the UAW to make changes, including the already concessions towards GM and Chrysler. However, Ford stated that back in February the concessions they agreed with the UAW will save them $500 million per year and will give them some flexibility in hwo to handle the union retiree health-care trust.
October 14, 2009
Car News