DETROIT — The United Auto Workers union reached a tentative contract deal Saturday with Ford Motor Co., the last of the Big Three automakers participating in a historic round of negotiations that has slashed wages and changed the way health care is provided to retirees.
Ford said the deal, if approved by a majority of the approximately 54,000 workers represented, will make it more competitive as it tries to halt its sliding U.S. market share.
Tentative agreement on Ford’s four-year contract was reached about 3:20 a.m. EDT without a strike. The UAW held short strikes against General Motors Corp. and Chrysler LLC before reaching agreements with them. A person briefed on the deal said Ford scaled back plans to close some U.S. plants and has promised to make significant product investments to ensure those plants will remain open for now.
In exchange, Ford will be allowed to pay lower wages to thousands of new hires, a provision already agreed to in contracts with GM and Chrysler.
