Ford-UAW Agreement Pays Hourly Workers $9,700 in 2011 Bonuses |
| BusinessWeek - Oct 4, 2011 |
Ford Motor Co. will pay most of its United Auto Workers-represented employees a $6,000 signing bonus and $3,700 in additional profit sharing this year under a new four-year tentative agreement, the union said today.
Workers with a year or less of service will get a $5,000 signing bonus, the union said in highlights of the agreement given to reporters at a press conference. Ford will also make annual $1,500 payments to its UAW workers, which take the place of cost-of-living adjustments in their pay.
Ford committed to adding 12,000 hourly jobs in its U.S. manufacturing plants by 2015 as part of the agreement, the Dearborn, Michigan-based company said today in a statement. The figure includes 5,750 more UAW jobs than a previously announced 6,250 hourly positions to be added by the end of 2012, Executive Vice President John Fleming said at a news conference.
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- Posted: 2011-10-04 13:52:52
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