Ford to book $600M 4Q expense for new labor contract - WDRB 41 Louisville News

Ford to book $600M 4Q expense for new labor contract

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DEARBORN, Mich. (WDRB) -- The head of Ford in North and South America is coming to Louisville Tuesday, as company officials say a new labor contract will secure 8,500 factory jobs.

The company says it will use $600 million in expenses for the four-year contract. Workers will get $8,500 in signing bonuses, plus $1,500 in early profit sharing.

The CEO says the new contract allows for a wider use of temporary workers and lifts a cap on entry-level wage employees. It also allows more flexible work schedules.

Ford also agreed to $9 billion in U.S. factory investments. There is no word on what will happen at tomorrow's visit at the Kentucky Truck Plant.

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