United Auto Workers union leaders approved a new tentative contract agreement Sunday with Ford Motor that includes $8.1 billion in company manufacturing investments, while bargaining continues at General Motors without any deal.
The UAW-Ford contract could give workers up to $70,000 in extra pay over the 4½-year life of the contract, before enhanced profit sharing and retirement contributions, UAW officials told members in a video Sunday.
The top rate for workers will rise to $42.60 per hour by 2028, including estimated cost of living allowances. The company will also offer $50,000 buyouts for workers and the new contract eliminates all lower wage tier plants.