TECH - UAW-Ford Deal Encompasses $8.1B In Investment And $5K Ratification Bonuses | Benzinga
Local United Auto Workers (UAW) union leaders gave the green light to a tentative agreement with Ford Motor (NYSE:F). The deal involves $8.1 billion in new plant investments and a $5,000 ratification bonus, among other economic benefits.
What Happened: The 4.5-year tentative agreement will now be presented to 57,000 UAW-Ford members for regional informational meetings and voting. The timeline for voting completion has not been disclosed, reported CNBC.
UAW president Shawn Fain and Vice President Chuck Browning released a joint statement.
“We send this contract to you because we know it breaks records. We know it will change lives. But what happens next is up to you all,” the statement read.
See Also: Tesla To Pick Cybertruck Event Attendees Via Shareholder Lottery
The agreement comes after union strikes against Ford, General Motors (NYSE:GM) and Chrysler-parent Stellantis (NYSE:STLA) when deals could not be reached before the Sept. 14 deadline.
Some notable investments in the deal include $2.1 billion for ...