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Ford, UAW contract has sizable bonuses and jobs

Ford Motor Company and the United Auto Workers have reached an agreement on a new contract that includes significant signing bonuses and more jobs for autoworkers.

Jul 31, 2020
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Ford Motor Company and the United Auto Workers have reached an agreementon a new contract that includes significant signing bonuses and more jobs for autoworkers.
Hourly workers at Ford Motor Co. will receive a $6,000 signing bonus as part of a new four-year contract with the automaker that also pledges $4.8 billion in new investment in U.S. plants at least $15,700 in bonuses and profit sharing payouts.
The agreement also secures more than 12,000 jobs, including 7,000 previously announced – 6,250 hourly and 750 salaried – and 5,750 new jobs that will be added by the end of 2012 and pay an entry-level wage.
Included in the plans to create more jobs is more investment in Ford’s plant in Wayne, Michigan. Some of those jobs will be created by moving work done in other countries back to American plants. UAW members will vote on the contract soon.
Dexter Cooke

Dexter Cooke

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Dexter Cooke is an economist, marketing strategist, and orthopedic surgeon with over 20 years of experience crafting compelling narratives that resonate worldwide. He holds a Journalism degree from Columbia University, an Economics background from Yale University, and a medical degree with a postdoctoral fellowship in orthopedic medicine from the Medical University of South Carolina. Dexter’s insights into media, economics, and marketing shine through his prolific contributions to respected publications and advisory roles for influential organizations. As an orthopedic surgeon specializing in minimally invasive knee replacement surgery and laparoscopic procedures, Dexter prioritizes patient care above all. Outside his professional pursuits, Dexter enjoys collecting vintage watches, studying ancient civilizations, learning about astronomy, and participating in charity runs.
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