Ford Motor on Thursday pegged the cost of a new labor deal at $8.8 billion and joined rival General Motors in cutting its full-year profit forecast due to lost production from a lengthy strike at its U.S. plants.
The deal with the United Auto Workers (UAW) union, reached after weeks of tense negotiations, will add about $900 in labor costs per vehicle by 2028, which Ford said it would work to offset by cutting costs elsewhere.
The deal with the United Auto Workers (UAW) union, reached after weeks of tense negotiations, will add about $900 in labor costs per vehicle by 2028, which Ford said it would work to offset by cutting costs elsewhere.