U.S. automakers may seek to start providing as much as 15 percent of union workers’ compensation in performance bonuses and lump-sum payments, emulating how their Japanese counterparts and salaried employees are paid.
United Auto Workers President Bob King told union leaders he thinks a deal can be reached with all three U.S. automakers by the current contracts’ Sept. 14 expiration, according to a person familiar with his remarks.
The United Auto Workers said in a Facebook post that it will seek a strike if members vote against a tentative agreement with Ford Motor Co. and that union leaders expect the automaker would seek replacement workers.
Ford Motor Co. will pay most of its United Auto Workers-represented employees a $6,000 signing bonus, $3,752 in profit sharing and a $250 “competitive bonus” this year under a new four-year tentative agreement, the union said in summaries today.
Ford Motor Co. and the United Auto Workers agreed to bargain past tonight’s expiration of their current labor contract while the union also pursues new labor agreements at General Motors Co. and Chrysler Group LLC.