The negotiations with the Detroit three seem to be coming to an end as Ford and the UAW announced this afternoon they have reached a tentative contract agreement.
“Working with our UAW partners, we have reached a tentative agreement for the next four years for our employees and our business. The agreement, if ratified, will help lead the Ford Motor Company, our employees and our communities into the future,” said John Fleming, Ford executive vice president of global manufacturing and labor affairs.
Details of new contract are under wraps as the national council will need to approve. The council will meet next Monday to discuss and give their say on it.
According to Automotive News, the contact could resemble the one for GM-UAW workers, which includes a path to the end of a two-tier wage system and a $8,000 signing bonus.
“This agreement is significant for our members in that it creates a clear path for economic advancement for active members and rewards veteran employees for their sacrifices in recent years,” UAW Vice President Jimmy Settles said in a statement. “It is one of the richest agreements in the history of UAW-Ford.”
Source: Automotive News (Subscription Required)