Ford Motor Co. and United Auto Workers reached a tentative agreement less than a week after UAW members ratified an agreement with General Motors Co. «We are pleased to have been able to quickly reach an agreement with the UAW without costly production interruption,» Joe Hinrichs, Automotive`s Ford president, said in a prepared statement. «This agreement helps Ford improve our competitiveness and protect well-paying manufacturing jobs. In collaboration with the UAW, we have greater flexibility in our operations, while keeping the cost of labor in line with U.S. forecasts Production work cost and still rewarded our workers for their significant contributions to the company. «Out of respect for our members, we will refrain from commenting or publishing the full details of the agreement until UAW Ford board executives meet and verify the details. Fiat Chrysler and PSA Group are expected to announce a merger deal on Thursday that could complicate contract negotiations between FCA US LLC. Ford-UAW presidents from across the country are expected Friday in Dearborn to vote to submit the provisional agreement to members for ratification. The votes would probably be due on the following Friday, November 8. The UAW and Ford Motor Co.
reached a preliminary labor agreement late Wednesday, the union said. The terms of the new deal offer Ford the opportunity to improve its production and operations performance, the company said, including: The Ford-UAW deal will likely reflect the pact approved by General Motors Co. Worker after a 40-day strike. Ford noted in a statement Friday that the company will account for «US$700 million in expenses related to the new deal, which are primarily related to the ratification bonus» during its fourth quarter. The agreement applies to employees present by the UAW every hour at Ford`s production sites in Michigan, Ohio, Kentucky, Missouri, Illinois and New York. «Every Ford employee and temporary worker will receive the peak rate for full-time status at the end of this four-year agreement,» Rory Gamble, interim UAW president, who is director of the UAW-Ford division, said in a prepared statement. «This is a life-changing contract for many and offers a model for all future Ford UAW members at a maximum rate full-time status. There will be no more permanent temporary situations and there will be no more permanent levels. Negotiating teams led by Rory Gamble, vice president of the UAW-Ford Department, and Bill Dirksen, Ford`s vice president for labor affairs, quickly reached an agreement after «seriously» starting discussion on economic issues on Monday.
Contract negotiations with the Detroit Three moved to Ford after GM workers, who had been on strike for six weeks, ratified their deal on Friday. The United Automobile Workers union announced Friday that the deal was supported by 56 percent of voters.