Ford Reaches Deal With Canadian Autoworkers, Averting A Strike
Date
9/20/2023 10:12:18 AM
(MENAFN- Baystreet.ca)
Ford Reaches Deal With Canadian Autoworkers, Averting A Strike Ford Motor Co. (F) has reached a new labour pact with more than 5,000 autoworkers in Canada, narrowly averting a strike that could have impacted its vehicle production.
The Detroit automaker was facing the very real prospect of having to deal with
labour actions on both sides of the U.S.-Canada border as time was running out on collective bargaining with Unifor, the union that represents autoworkers in Canada.
However, Ford and Unifor managed to broker a tentative deal in the 11th hour of negotiations that covers 5,600 autoworkers, most of whom work in Ontario.
The agreement with Canadian autoworkers was reached on day five of a strike by the United Auto Workers (UAW) in the U.S., who are undertaking targeted job action at the manufacturing plants of Ford, General Motors (GM), and Stellantis (STLA) in America.
A strike in Canada would have impacted Ford's Oakville Assembly Plant that produces the Ford Edge and Lincoln Nautilus crossover vehicles, as well as two plants that produce V8 engines used in the Ford F-Series pick-up trucks and Mustang muscle car.
Neither Ford or Unifor have released details of the tentative agreement, which must still be ratified by the union's membership in a vote.
Unifor, which represents a total of 18,000 Canadian autoworkers, took a more traditional approach to collective bargaining than the UAW.
The Canadian union began its negotiations with only Ford rather than following the UAW's approach of bargaining with all three of the major U.S. automakers at the same time.
If the Canadian deal with Ford is ratified, it is expected to be used as a template for Unifor's upcoming negotiations with General Motors and Stellantis.
Ford Motor Co.'s stock has declined 4% over the last 12 month and currently trades at $12.56 U.S. per share.
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