Monday May 5, 08:07 AM
Canadian Ford auto workers agree three-year pay freeze
MONTREAL (AFP) - Canadian employees of Ford have agreed to a three-year pay freeze under a new contract reached with the auto giant.
The Canadian Auto Workers union announced that 78 percent of its 8,900 members voted in favor of the new collective agreement over the weekend.
"This agreement is a victory for our members," CAW President Buzz Hargrove said in a statement. "It takes care of current workers and retirees while recognizing the challenges facing the industry. And it doesn't do this on the backs of future workers either, with any sort of two-tier structure."
Under the accord, new workers will only received 70 percent of the standard salary for three years. Currently new workers get 85 percent of the base salary for two years before going up to the full scale.
Ford Motor announced a profit for the first quarter of the year but said it does not expect to be in long term profit until 2009.
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