Under the terms of the agreement, Ford will add 12,000 hourly-wage jobs to its U.S. workforce, in-sourcing from countries such as Mexico, China and Japan. Ford had previously committed to adding 7,000 hourly-wage jobs by the end of 2012, and the new agreement adds an additional 5,750 jobs over the next four years.
Ford’s also committed to investing $16 billion in the United States before 2015, including some $6.2 billion in manufacturing plant upgrades.
The next step is for UAW leaders to share details with union members as part of the ratification process. Assuming the contract is accepted as written, look for further details from both Ford and the UAW in the coming weeks.