DEARBORN, Mich. (AP) — Ford Motor Co. said Tuesday it will add 5,750 jobs and invest $4.8 billion in its U.S. factories as part of a new contract deal with the United Auto Workers union.
The four-year deal was reached early Tuesday after eight straight days of bargaining. UAW leaders were expected to release further details of the contract later Tuesday at a meeting of union leaders in Detroit. The deal is subject to a vote by union members.
John Fleming, Ford vice president of manufacturing, said most of the new hires will be paid a lower wage than Ford's older workers. The agreement is expected to lower Ford's labor costs, which are the highest in the U.S. auto industry.
"The tentative agreement will enable us to improve our overall competitiveness here in the United States," Fleming told reporters at Ford's headquarters in Dearborn.
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