Ford men back pay freeze
NZPA-Reuter Detroit Ford Motor Company workers yesterday agreed to renounce wage rises, paid days off, and cost-of-living increases for 2% years in a contract that'may set a new pattern in American labour relations. • ' Members of the United Auto Workers trade union voted by 73 per cent to accept the pact, the union’s president (Mr Douglas Fraser), said. “We are extremely pleased at the margin of ratification.” In return for the union concessions. Ford would minimise the number of plant closures and redundancies and guarantee income to long-time employees who are laid off. The contract takes effect
this week and will hold for 31 months. It is designed to counteract the worst slump in the American car industry since World War Two. Imported cars accounted for 30 per cent of domestic car sales in January. The contract also stipulated that when the car industry recovers, Ford workers would be entitled to join a profit-sharing scheme. Ford has not faced insolvency as has the third largest American car-maker, Chrysler, but said it lost SNZ 1.28 billion last year. Independent analysts said the new contract could save the, company between SNZ 640 million - and SNZ 1.28 billion., ‘ ‘ '
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Press, 2 March 1982, Page 9
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199Ford men back pay freeze Press, 2 March 1982, Page 9
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