Ford's unionized employees appear ready to sign a new contract, a move that would allow the automaker to avoid the kind of strike that recently hobbled rival GM for 40 days
United Auto Workers locals that represent members at various Ford plants around the country have started to report results of ratification votes on a four-year tentative agreement reached late last month. So far 63% of members who have voted on the deal have voted in favor of ratification, giving it a more than 4,000 vote margin in favor. Four years ago, a contract that gave workers their first raise in more than a decade was approved with only 51% of the vote.
But that signing bonus came after a strike that lasted nearly six weeks, costing members significant lost wages.The deal with Ford matches GM's 6% increase in wages for veteran workers, spread out over the four years of the deal. The union estimates it increases compensation to the average production line member by nearly $30,000 over that period.The tentative deal with Ford was reached in a matter of days after workers at GM returned to work from the picket lines.
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