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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Ford Motor Company | NYSE:F | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 11.16 | 0 | 01:00:00 |
From Jul 2023 to Jul 2024
By Dean Seal
Nearly 8,000 union-represented Ford employees received pay raises on Labor Day and are earning an average of $9,000 more per year.
The automaker said Thursday that it fast-tracked the pay increases and that on average, the affected workers now make $4.33 more per hour.
The pay hikes had been negotiated between Ford and the United Auto Workers in 2019 to shorten the time it takes workers to reach the average top wage rate of $32 an hour.
Ford said that while it usually takes eight years to reach the average top wage rate, the agreement has allowed affected workers to reach that rate in as little as four years.
Employees will see the pay increase in their next paystubs.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
September 07, 2023 08:38 ET (12:38 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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