A Deal Between Ford and Its Union Just Hit a Big Snag
Workers at Ford Motor Co. are locked in a tight vote over a proposed labor deal with the automaker. Of the 75% of Ford’s 52,900 factory workers who have voted on the pact so far, a majority have rejected it, the Wall Street Journal reports.
The deal, negotiated by the United Automobile Workers union, included an $8,500 signing bonus for all workers and a pledge by Ford (F) to spend $9 billion on new American factories. However, union members also want to decrease the time required for new workers to receive the same pay as long-time employees for doing the same job.
The UAW is now trying to rally remaining workers to vote for the deal, which is in some ways more generous than recent contracts negotiated with Fiat Chrysler and General Motors (the signing bonus is larger, for example). Final votes will be cast by Friday.