After a lengthy strike at General Motors that cost the company $2.9 billion, the UAW has agreed to a contract with Ford that looks remarkably similar to the one they got with General Motors. Ford workers ratified the deal on Friday with 56.3 percent voting yes to the new four year agreement.
The agreement says that Ford will invest more than $6 billion in its U.S. plants and add or retain 8,500 UAW jobs. The UAW used the GM contract as a template for negotiations with Ford. Like the GM contract, there are no changes in healthcare coverage, there is a pathway to full-time employment for temporary workers, pay raises, and lump-sum payments spread over 4 years.
The UAW now will turn its attention on FCA where negotiations are due to begin on Monday.