The agreement is said to include over US$6 billion in investments by Ford in jobs and plants. The carmaker has nearly 56,000 hourly workers in the U.S. and, under the new contract, more than 8,500 jobs are to be created or retained and 19 facilities are to obtain some of the investment, according to UAW. Also, Ford UAW workers are to be offered a ratification bonus of US$9,000 (US$3,500 for temporary employees), as well as wage increases and no reduction in health-care benefits or increase in costs to members. Ford will “be allowed” to close one facility; the Romeo engine plant located in the state of Michigan, which employs more than 600 hourly workers. The deal allegedly includes a moratorium on any plant closures.

The deal reached with Ford is said to be similar to the one UAW reached in October with GM, following a 40-day strike.

Sources: CNN/Automotive News