11-03-2007, 09:23 PM
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#2
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Senior Member
Join Date: Aug 2007
Location: Okolona, Ky.
Posts: 6,146
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But do the workers get a no-cutbacks guarantee on their end of the bargain?
Ford, UAW Reach Tentative Contract Deal
Nov 3, 2007: Ford and United Auto Workers Union Reach Tentative 4-Year Contract Agreement Without Strike
Quote:
The United Auto Workers union said early Saturday it reached a tentative four-year contract agreement with Ford Motor Co., avoiding even the threat of a strike against the struggling automaker. The deal, reached around 3:20 a.m., must be ratified by the UAW's approximately 54,000 members covered by the contract at Ford. If approved, it would bring a close to historic negotiations that have yielded agreements designed to return U.S.-based automakers to profitability.
Details of the Ford agreement were not immediately released, but the deal likely will be close to what was negotiated with General Motors Corp. and Chrysler LLC. Those pacts which were reached after short strikes against the automakers include a union-run trust that would take over the companies' retiree health care obligations, a lower-tier wage scale for some workers and some job security pledges.
In a statement, Ford confirmed that the deal includes the retiree health care trust fund and said the trust is subject to approval by the courts and the U.S. Securities and Exchange Commission. "Though we will not discuss the specifics of the tentative agreement until after it becomes final, we believe it is fair to our employees and retirees, and paves the way for Ford to increase its competitiveness in the United States," Joe Laymon, Ford's group vice president for human resources and labor affairs, said in the statement.
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Ford and UAW may reach deal fairly quickly: analysts
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