Ford Motor agreed to keep three U.S. plants open and pour significant new investment into its other manufacturing facilities as part of a tentative contract with the United Auto Workers, union officials briefed on the deal said on Monday.
Under the tentative deal, Ford would pull back from a plan to close six U.S. facilities that it had not yet identified, sparing three of those from closure, officials said.
In exchange, Ford would be able to hire up to 20 percent of its work force under a lower-tier wage structure that promises to slash its hourly wage costs, one UAW official said.
Representatives of UAW local bargaining units were meeting with the union's negotiating team near Ford's Dearborn, Mich. headquarters on Monday. The tentative contract must be approved by a majority of Ford's 58,000 UAW-represented workers.