The UAW Ford Contract for 2019 has been a topic of discussion for many in the automotive industry. Negotiations between the United Automobile Workers (UAW) and Ford Motor Company have resulted in a new contract that meets the needs of both parties. Here are the highlights of the UAW Ford Contract for 2019.
Wages and Benefits
The new contract includes a 6% increase in base wages over the course of the four-year contract. This will result in an average wage increase of $11,000 over the life of the contract. In addition, employees will receive a lump sum payment of $9,000 over the course of the contract.
The contract also includes improved benefits for employees, including increased health care benefits and a defined contribution plan for retirement. This plan will provide employees with more control over their retirement savings.
Job Security
The UAW Ford Contract for 2019 also includes provisions for job security. The company has committed to invest $6 billion in its U.S. manufacturing facilities, which will create or retain 8,500 jobs. This includes the creation of 1,000 new jobs at a new electric vehicle manufacturing plant in Michigan.
In addition, the contract includes a commitment that there will be no plant closures or layoffs for the duration of the contract. This will provide a sense of security for employees as they work to support themselves and their families.
Other Highlights
Other highlights of the UAW Ford Contract for 2019 include:
– The creation of a joint labor-management committee to address workplace safety issues
– The establishment of a task force to focus on improving the company`s approach to temporary workers
– The addition of a signing bonus for employees who are not eligible for the lump sum payment
Conclusion
Overall, the UAW Ford Contract for 2019 is a win-win for both the UAW and Ford Motor Company. The contract provides employees with improved wages and benefits, job security, and a sense of stability for the years to come. As the automotive industry continues to evolve, it`s important that companies and their employees work together to ensure success. This contract is a great example of how that can be achieved.