A tentative agreement between U.S. automaker Ford Motor Co. and the United Auto Workers (UAW) was approved by UAW members on Tuesday, the union announced on Wednesday.
The Ford agreement, which comes three weeks after General Motors', would add 5,750 new UAW jobs, bringing the total to 12, 000. Chrysler Group LLC has just begun voting on its proposed deal, which is expected to conclude on Oct. 25.
As a result of these negotiations, a total of 20,000 direct manufacturing jobs will be added to the economy, including the creation of 6,400 jobs at GM, said UAW President Bob King.
The Ford agreement also includes 16 billion dollars of investment in new vehicles, including 6.2 billion to upgrade plants in Michigan Assembly, AutoAlliance International in Flat Rock, Romeo Engine and some transmission plants.
Besides, according to the agreement, Ford workers with a year of seniority will get a 6,000-dollar signing bonus and receive 7, 000 dollars of "inflation protection" and other lump-sum payments.
Mark Fields, Ford president of the Americas, said the agreement is a proof that the company could significantly create new jobs, invest in plants and people, and make a very positive impact on the U.S. economy.