And that makes three: UAW-Ford workers approve fresh, 4-year contract

Gallery: Ford Ranger

on November 21, two thousand fifteen at 9:00 AM, updated November 21, two thousand fifteen at 9:15 AM

DETROIT, MI – The some 52,000 rank-and-file UAW workers at Ford Motor Co.’s U.S. facilities have narrowly approved a fresh, four-year contract with the Dearborn automaker.

It will be the third of the Detroit Three to ratify a fresh contract, after UAW leaders for General Motors agreed earlier Friday to approve a similar deal.

“Our UAW members have ratified the national agreement after a long process and much debate,” UAW President Dennis Williams said in a statement Friday night. “The voice of the majority has secured a strong future that will provide job security and economic stability for themselves and their families.”

The four-year contract includes $9 billion in U.S. product commitments and 8,500 jobs created or retained. About half of the $9 billion commitment is headed for Michigan plants.

One of the larger developments comes at Michigan Assembly, where the Dearborn automaker has said it will end production of the C-Max and Concentrate and send it outside fo the U.S., with industry analysts suspecting Mexico as the likely destination.

The UAW-Ford agreement says the automaker will make a $700 million investment in two fresh products at Michigan Assembly, with one added in two thousand eighteen and another coming no later than 2020.

It is widely expected that those fresh products are a Ford Ranger, and a Ford Bronco, respectively.

There is also a “plant closing and sale moratorium” in effect for the duration of the two thousand fifteen agreement.

Meantime, the agreement gives traditional workers, or those hired before 2007, their very first wage increase in ten years. And, like the deals with Fiat Chrysler andwith General Motors, workers hired after two thousand seven have a clear path to traditional wages.

This is the bridging of the the wage gap the UAW had sought going in to the talks. Ford is also adding a retroactive wage increase to Sept. 15.

Ford’s deal is even richer than GM’s or FCA’s, with $8,500 signing bonuses, versus $8,000 and $Trio,000, respectively, for the other automakers.

That’s in addition to a series of other bonuses spanning the contract’s life, such as $250 competitive bonuses, a $Two,480-$Two,895 “lump sum” bonus in year Four, a $1,500 profit sharing pre-payment and a $1,500 annual inflation protection bonus.

There are also improvements in retirement benefits and healthcare. The total agreement details can be seen here.

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