The UAW Ford Agreement 2019: A Breakdown of Key Highlights
The United Auto Workers (UAW) and Ford Motor Company have reached a tentative agreement on a new contract for hourly workers, following months of negotiations. The UAW Ford Agreement 2019 covers approximately 55,000 hourly workers across the United States.
So, what are the key highlights of this agreement? Here’s a breakdown:
Wages and Bonuses:
Under the new contract, full-time employees hired before September 14, 2019, will receive a $9,000 signing bonus. Temporary workers will receive a $3,500 bonus. In addition, workers who have been with the company for at least four years will also receive a 4% lump sum bonus. Hourly wages for employees will rise by 6% over the course of the contract.
The UAW Ford Agreement 2019 also includes a number of improvements to healthcare benefits for hourly workers. These include:
– Lowering prescription drug costs by $150 per year for those enrolled in the company`s healthcare plan.
– Increasing vision coverage and dental benefits.
– Extending sick leave to cover caregiving responsibilities.
The UAW Ford Agreement 2019 includes several provisions aimed at ensuring job security for hourly workers. These include a commitment from the company to invest $6 billion in U.S. plants, creating or retaining approximately 8,500 jobs. There is also a moratorium on plant closures until the contract expires in 2023.
In addition, the agreement also states that temporary workers who have been with the company for at least three years will be offered full-time positions. This is significant because temporary workers are often paid less and do not receive the same benefits as full-time employees.
The UAW Ford Agreement 2019 also includes a number of other provisions, such as:
– A new path for temporary employees to become full-time employees after three years of service.
– The creation of a new product committee that will work with Ford to invest in new products and technologies.
– Improved vacation time and paid holidays for workers.
This tentative agreement is still subject to ratification by UAW members. Once ratified, the new contract will be in effect until September 2023.
In conclusion, the UAW Ford Agreement 2019 represents a significant improvement for hourly workers at Ford. The agreement includes wage increases, improved healthcare benefits, and job security provisions, among other important changes. If ratified, it will be a positive step forward for both the company and its employees.