Ford Workers Ratify Pact With UAW

UAW workers at Ford overwhelmingly approved a four-year contract today that shifts responsibility for some retiree health benefits to the union, the Detroit Free Press reports. The agreement also allows Ford to hire new employees for lower wages and fewer benefits. The contract approval follows similar deals at GM and Chrysler, though Ford was the only one of the three to avoid a strike.

Ford agreed to invest in and keep US plants open. The UAW president calls the contract “a creative agreement that addresses the concerns of our members, and also gives the company the opportunity to move forward.” Nearly 80 percent of union members voted in favor of the contract. (More cars stories.)