[Statement attributable to Jim Farley, president and CEO, Ford Motor Company]
The Ford team continues to put 100% of our energy into reaching an agreement with the UAW that rewards our valued employees and allows the company to invest in the future. If there is a strike, it’s not because Ford didn’t make a great offer. We have and that’s what we can control.
In fact, we have put four offers on the table starting Aug. 29 and each one has been increasingly generous. We still have not received any genuine counteroffer.
On Tuesday, Bill Ford and I sat down with the union at the main table for a major offer. As we were walking in the room, we learned President Fain would not be attending. Nevertheless, Bill and I laid out a historically generous offer to the UAW Ford bargaining team because we listened to the UAW demands and we care about our employees. Here are the facts. Ford:
- Significantly increased our proposal on wage increases;
- Offered Cost of Living Adjustments, or COLA;
- Fully eliminated wage tiers so all employees can achieve industry-leading wages – and shortened to four from eight years the time it takes hourly employees to reach the top wage;
- Increased contributions to in-progression retirement savings;
- Protected health care benefits that would continue to rank in the top 1% of all employer-sponsored medical plans for lowest employee cost sharing; and
- Added more paid time off, with up to five weeks of vacation and 17 paid holidays each year (with the addition of Juneteenth).
The first we learned President Fain received the offer was on Facebook Live this evening. So again, we are here and ready to reach a deal. We should be working creatively to solve hard problems rather than planning strikes and PR events.
Please remember that Ford, more than any other company, has bet on the UAW and treated the UAW with respect. We have been incredibly supportive of the union. We have gone well beyond any contract language in adding jobs and investment.
The future of our industry is at stake. Let’s do everything we can to avert a disastrous outcome.