Photo: Ford
Ford is finally out of the woods, as the UAW has ratified its contract with Ford Motor Co, according to a statement made after two plants in Kentucky and Ohio approved the deal.
According to Bloomberg, the results have shifted from being 53 percent against de deal on October 14th to being 63.2 percent for it. On Ford’s part, the automaker is offering 12,000 new jobs, $6.2 billion in factory upgrades, plus profit-sharing payments this year that total as much as $10,000 per worker.
“People are saying there is room for improvement, but they’ll vote in favor of this contract because it means jobs,” said Jerome Williams, president of UAW Local 2000 from Avon Lake, Ohio.
Ford’s shared have been down 30 percent this year, but the news resulted in a 3.3 percent increase in New York trading. This is because the imminent worker strike would have cost Ford $273 million a day in lost revenue, according to an analyst from Barclays.
“People are saying there is room for improvement, but they’ll vote in favor of this contract because it means jobs,” said Jerome Williams, president of UAW Local 2000 from Avon Lake, Ohio.
Ford’s shared have been down 30 percent this year, but the news resulted in a 3.3 percent increase in New York trading. This is because the imminent worker strike would have cost Ford $273 million a day in lost revenue, according to an analyst from Barclays.
Google News