Ford Workers Approve Wage Freeze, Other Cost-Cutting Moves in Union Contract

March 9, 2009 - 2:14 PM
The United Auto Workers Union says its members working for Ford Motor Co. have approved contract changes that include freezing wages and cutting other benefits in a move to aimed at helping the automaker remain competitive.
Detroit (AP) - The United Auto Workers Union says its members working for Ford Motor Co. have approved contract changes that include freezing wages and cutting other benefits in a move to aimed at helping the automaker remain competitive.
 
The approved agreement also ends the jobs bank program and lets Ford make payments in stock to a union-run trust for retiree health care.
 
The union says 59 percent of production workers and 58 percent of skilled-trades workers voted for the agreement.
 
Ford is not seeking government funding and is the first U.S. automaker to come to an agreement with the union.