Ford Fast-Tracks Pay Raises for 8,000 Workers
September 07 2023 - 8:53AM
Dow Jones News
By Dean Seal
Nearly 8,000 union-represented Ford employees received pay
raises on Labor Day and are earning an average of $9,000 more per
year.
The automaker said Thursday that it fast-tracked the pay
increases and that on average, the affected workers now make $4.33
more per hour.
The pay hikes had been negotiated between Ford and the United
Auto Workers in 2019 to shorten the time it takes workers to reach
the average top wage rate of $32 an hour.
Ford said that while it usually takes eight years to reach the
average top wage rate, the agreement has allowed affected workers
to reach that rate in as little as four years.
Employees will see the pay increase in their next paystubs.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
September 07, 2023 08:38 ET (12:38 GMT)
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