Ford And UAW Reach Tenative Agreement
Ford Motor Co. and the United Auto Workers will invest $16 billion in new products and add or save 12,000 jobs as part of a new tentative agreement reached overnight on a new four-year contract.
Many of those jobs will be in Michigan. The figure includes 7,000 jobs previously announced as well as 5,750 additional jobs - the majority of them new and paying the lower, entry-level wage. They'll be added by the end of 2012.
Ford officials declined to break down the exact split between new and saved jobs. Some the jobs are from in-sourcing of work that has been previously done in other countries, including Mexico, Japan and China.
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