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Ford and UAW Agree on New Compensation Plan

HeadlineMar 10, 2009

In other labor news, Ford and the United Auto Workers have reached a deal where the union has agreed to cuts in their compensation package, including a freezing of wages and restructuring retirement benefits. In exchange, Ford made commitments to the UAW to seek sacrifices from its executives, salaried employees and bondholders. The new deal is expected to save Ford millions of dollars.

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