United Auto Workers | featured news

Ford Motor Co said on Wednesday that it expects operating savings of $500 million per year from an agreement with the United Auto Workers that will push hourly wage rates into the "ballpark" of foreign-based rivals.

United Auto Workers union members at Ford Motor Co.’s U.S. plants have ratified concessions in the union’s labor contract with the company and changes to retiree health care funding.

DETROIT (Reuters) - Ford Motor Co has reached a tentative deal with the United Auto Workers union on changes to retiree health care, becoming the first Detroit automaker to secure union concessions on the key issue.

More on Auto Bailout DETROIT — General Motors Corp. and the United Auto Workers were getting close to an agreement on concessions, a person briefed on the negotiations said Tuesday, just hours before GM and Chrysler LLC must submit a restructuring plan to the Treasury Department to justify its federal loans.

Details of the deal were not available. Negotiations went all night Monday and into Tuesday, said the person, who spoke on condition of anonymity because the plan has yet to be submitted.

Talks between the United Auto Workers and General Motors Corp central to a turnaround plan for the struggling automaker have broken down over the issue of retiree healthcare costs, a person briefed on the talks said on Saturday.