UAW Approves Four Year Contract with Ford

The United Auto Workers Union just approved a new four year contract with Ford.

The UAW announced more than 56% of members voted in favor of the deal.

The agreement reached back on Oct. 31 gives veteran workers a 6% raise and a $9,000 signing bonus.

It allows newer workers to move up the pay scale faster and allows for some temporary workers to be hired on as permanent employees.

Ford also promised $6 billion in U.S. factory investments but will still close a Detroit engine factory.

All 600 workers will keep their jobs, and be transferred to a nearby plant.