Tuesday, November 06, 2007
Ford reaches union agreement
Ford agreed on a four-year labour contract with the United Auto Workers union this weekend.
While details of the tentative agreement were not disclosed pending ratification by union members, it appears to follow the outlines of deals at General Motors and Chrysler.
One difference, however, is that Ford has said the deal includes an independent retiree healthcare trust.
The company can transfer its healthcare liabilities to this trust, an amount estimated at about $23bn (£11bn).
DATED: 06.11.07
FEED: MT
