Ford Workers narrowly approves New Four-Year Contract with union

Ford workers approved by only 51.4 percent of vote a new four-year contract between the United Auto Workers union and the car manufacturing company.

NPR reported that the contract wraps up five months of negotiations between the two parties. The contract, which covers 53,000 workers in 22 different plants, will increase workers' wages and remove the two-tier system that pays veterans bigger amounts compared to the newer employees. The contract also promises bonuses of as much as $10,250 per employee, as well as annual profit-sharing checks every year. It will also guarantee $9 billion worth of investments at Ford's US plants for the next four years.

In a report by Reuters, Ford in a statement said, "This agreement provides a good foundation for Ford Motor Company, our employees and our communities as we work together to create an even stronger business in the years ahead."

The UAW's chief Ford negotiator, Jimmy Settles, said, "There is no higher authority than the membership. Through a fair and democratic process UAW-Ford members have delivered job security and strong economic gains for their families and communities."

According to the Detroit Free Press, the results of the contract were released Friday. Even though the nationwide ratification process seem to be headed to a rejection in the past weeks, UAW leaders hoped for the 8,000 worker represented by the UAW Local 600 to approve the contract.

Some 74 percent of the more than 4,300 workers in Dearborn Truck Plant voted in favor of the contract. That raised the hopes of the Local 600 leaders, since it is a margin big enough for the approval.

Now, the three giant automakers in Detroit, Ford, General Motors, and Fiat Chrysler have ratified their contracts. GM's contract, which covers 52,700 UAW members, will take effect Monday, while Fiat Chrysler is working under a new agreement with its 40,000 UAW workers since last month.