Auto Industry, United Auto Workers | featured news

Hourly workers represented by the United Auto Workers ratified a labor deal with Ford Motor Co on Wednesday, leaving Chrysler as the last U.S. automaker without a finalized contract.

General Motors Co. and the United Auto Workers have reached an agreement on a new contract....

To help American carmakers stay in business, autoworkers grudgingly gave up pay raises and some benefits four years ago.

General Motors is planning to pay its hourly workers in the U.S. at least $3,000 each under a profit-sharing provision in its UAW contract.

G.M. said Wednesday that it had positive cash flow of $1 billion in the six months after it emerged from bankruptcy protection last July, but that it lost $4.3 billion in that period, mostly because of the cost of settling with the United Auto Workers union over retiree health benefits, one of the burdens that helped bring the company to its knees.

If union members accept the deal, Ford will gain some of the benefits that General Motors and Chrysler needed bankruptcy reorganization to achieve.

The United Auto Workers union expects a crucial round of restructuring talks with General Motors Corp "to intensify this coming week" ahead of an end-of-May deadline set by the Obama administration.

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.