Ford says to incur $600 mln expense in 2015 from US union pact

30 Nov 2015 | Author: | No comments yet »

Ford to book $600M 4Q expense for new labor contract.

DEARBORN, Mich. (AP) — Ford says it will book a $600 million fourth-quarter expense mainly for signing bonuses paid to union workers under a new four-year contract. But the company says the deal with the United Auto Workers limits labor cost increases to 1.5 percent per year and is consistent with its full-year financial guidance.

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