TECH - Ford Of Canada Union Reach Collective Agreement With Wage Boosts Pension Improvements; U.S. Negotiations Continue | Benzinga
As Detroit-based automaker Ford Motor Co (NYSE:F) continues to reel under the impact of the United Auto Workers (UAW) union's strike in the U.S., Canada's Unifor union has ratified a new agreement with Ford of Canada.
What Happened: Unifor said on Sunday that a majority of its Ford members voted in favor of a new three-year collective agreement with Ford of Canada that includes a base hourly wage increase of up to 25%. Under the new contract, general wages would increase 10%in the first year, 2% in the second and 3% in the third.
Other key updates in the new contract include reactivation of cost of living allowance, improvements to pension plans, investment for Essex Engine Plant and protections during the ...