Ford pact seen as gain for both carmaker, UAW

Nov 05, 2007 | 01:59 PM | Michael Cowden

Ford Motor Co. and the United Auto Workers (UAW) union have reached a tentative agreement covering about 54,000 U.S. employees, a move that some observers said should help make the company competitive again.

The four-year deal between the UAW and the Dearborn, Mich.-based automaker will establish a union-managed retiree health care trust, effectively removing those costs from Ford's books. In that respect, the deal is similar to UAW contracts negotiated recently with General Motors Corp., Detroit, and Chrysler LLC, Auburn Hills, Mich.

Further details of the contract were not immediately available Monday, but observers said the deal likely will include a two-tiered wage system that would see new hires receive lower wages and benefits than current workers.....

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