Ford Motor Co. said today it will add or retain 12,000 U.S. jobs as part of $16 billion in planned investments under its new labor agreement with the UAW. Hit the jump to read the rest of the story.
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The automaker and UAW reached a tentative accord covering wages and benefits for 41,000 workers earlier today.
The investments will cover new models, factory capacity and powertrains, Ford said. The automaker also plans to insource manufacturing work from Mexico, Japan and China.
The tentative deal also includes a $6,000 signing bonus upon ratification and another $7,000 in “inflation protection” payouts over the course of the contact in lieu of cost-of-living pay increases.
“As the nation’s economy remains stalled and uncertain, and its employment rate stagnates, we were able to win an agreement with Ford that will bring auto manufacturing jobs back to the United States from China, Mexico and Japan,” UAW President Bob King said in a statement.
The 12,000 jobs to be added during the contract include 6,250 previously announced hourly positions. The 6,250 positions will be filled with existing workers and new hires, Ford officials indicated today.
An additional 5,750 jobs will be filled throughout the term of the contract with new hires, Ford said.
