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Ford Media Center
Ford today shared an update on its negotiations with the UAW. The bottom line, from the company’s perspective:
Ford has offered a contract that would change the lives of its 57,000 workers.
The UAW is holding up the deal primarily over battery plants that will not come online for another two to three years.
There is still time to reach an agreement and avert disaster – but not much time given the fragile supply base.
“If the UAW’s goal is a record contract, they have already achieved this,” said Ford President and CEO Jim Farley. “It is grossly irresponsible to escalate these strikes and hurt thousands of families.”
Before the strike – on Sept. 12 – Ford made an offer that would mean substantial wins for its workers, including wage increases of more than 20%, traditional Cost of Living Allowances, health care coverage that is in the top 1% for all Americans, eliminating wage tiers, boosting strong retirement contributions, granting more time off and more. The company has continued to negotiate and improve its offer since Sept. 12.
The billions in costs the UAW leadership is demanding – beyond the billions Ford has offered – would have devastating implications for Ford’s business and the company’s ability to protect good-paying union jobs going forward.
Ford has invested more in UAW-represented employees than any other automaker, standing alone in adding UAW jobs since the Great Recession and exceeding its investment and job commitments for three consecutive UAW contracts.
For more details, view briefing materials to the right.
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Statements included or incorporated by reference herein may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on expectations, forecasts, and assumptions by our management and involve a number of risks, uncertainties, and other factors that could cause actual results to differ materially from those stated, including, without limitation:
Ford and Ford Credit’s financial condition and results of operations have been and may continue to be adversely affected by public health issues, including epidemics or pandemics such as COVID-19;
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Ford Motor Company (NYSE: F) is a global company based in Dearborn, Michigan, committed to helping build a better world, where every person is free to move and pursue their dreams. The company’s Ford+ plan for growth and value creation combines existing strengths, new capabilities and always-on relationships with customers to enrich experiences for customers and deepen their loyalty. Ford develops and delivers innovative, must-have Ford trucks, sport utility vehicles, commercial vans and cars and Lincoln luxury vehicles, along with connected services. The company does that through three customer-centered business segments: Ford Blue, engineering iconic gas-powered and hybrid vehicles; Ford Model e, inventing breakthrough EVs along with embedded software that defines exceptional digital experiences for all customers; and Ford Pro, helping commercial customers transform and expand their businesses with vehicles and services tailored to their needs. Additionally, Ford provides financial services through Ford Motor Credit Company. Ford employs about 177,000 people worldwide. More information about the company and its products and services is available at corporate.ford.com.