Ford, UAW contract has sizable bonuses and jobs
Ford Motor Company and the United Auto Workers have reached an agreement on a new contract that includes significant signing bonuses and more jobs for autoworkers.
Hourly workers at Ford Motor Co. will receive a $6,000 signing bonus as part of a new four-year contract with the automaker that also pledges $4.8 billion in new investment in U.S. plants at least $15,700 in bonuses and profit sharing payouts.
The agreement also secures more than 12,000 jobs, including 7,000 previously announced – 6,250 hourly and 750 salaried – and 5,750 new jobs that will be added by the end of 2012 and pay an entry-level wage.
Included in the plans to create more jobs is more investment in Ford’s plant in Wayne, Michigan. Some of those jobs will be created by moving work done in other countries back to American plants. UAW members will vote on the contract soon.