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Wed Oct 30, 2019, 09:39 PM

Ford reaches tentative labor deal with United Auto Workers union

Source: Reuters

BUSINESS NEWS OCTOBER 30, 2019 / 9:17 PM / UPDATED 38 MINUTES AGO

Ford reaches tentative labor deal with United Auto Workers union

Ben Klayman
3 MIN READ

DETROIT (Reuters) - Ford Motor (F.N) and the United Auto Workers union on Wednesday announced a tentative agreement for a new labor deal, allowing the No. 2 U.S. automaker to avoid a strike like the one that cost its larger rival General Motors (GM.N) about $3 billion.

The union turned to Ford to negotiate a new four-year agreement after ratifying a contract last week with GM following a 40-day U.S. strike that shut down almost all of GM’s North American operations.

Detailed terms of the deal were not released, but they are expected to echo those agreed to with GM, as the union typically uses the first deal as a pattern for those that follow.

“The pattern bargaining strategy has been a very effective approach for UAW and its members to secure economic gains around salary, benefits and secured over $6 billion in major product investments in American facilities, creating and retaining over 8,500 jobs for our communities,” UAW Vice President Rory Gamble, head of the union’s Ford department, said in a statement.

Ford confirmed the deal in a statement, but declined further comment.

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Read more: https://www.reuters.com/article/us-usa-autos-labor/ford-reaches-tentative-labor-deal-with-united-auto-workers-union-idUSKBN1XA044

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