Ford to Invest $4.8B in Plants, to Add Nearly 6,000 Jobs

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Detriot-based auto giant Ford Motor Co. on Tuesday announced that it will invest more than $4.8 billion in its factories and add at least 5,750 new jobs as part of the new contract deal with the United Auto Workers union.

US automaker Ford Motor Co. on Tuesday announced that it will invest more than $4.8 billion in its factories and add at least 5,750 new jobs as part of the new contract deal with the United Auto Workers union.

John Fleming, Ford vice-president for manufacturing, said that majority of the new hires will be at entry-level salary, cutting the labor cost while maximizing production.

But the executive did not disclose where the new hires would be assigned, but stressed that it would be on top of the 7,000 new positions that the company announced earlier this year. He said that new jobs would significantly boost its workforce.

Fleming noted that the new labor deal has been reached early Tuesday morning after eight straight days of bargaining with UAW representatives.

Meanwhile, reports told that union leaders have already acknowledge the labor deal and expect members to vote on it by next week.

Union leader are also expected to provide further details on the new labor contract later Tuesday.

Union leaders are expected to release further details of the contract later Tuesday.

Earlier, General Motors Co. also reached a new labor contract with UAW, which will cost the automaker at least $215 million over the next three years as it raises salary for entry level workers.

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