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Linamar Corp
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Shares Issued 61,528,157
Close 2023-09-22 C$ 64.85
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Globe says Magna, rivals see Ford workers ratify deal

2023-09-25 08:58 ET - In the News

See In the News (C-MG) Magna International Inc

The Globe and Mail reports in its Monday, Sept. 25, edition that Ford Motor Co. of Canada's unionized workers have narrowly voted in favour of a three-year contract that provides wage increases of 15 per cent over three years, pension improvements and a $10,000 signing bonus. The Globe's Eric Atkins writes that the Unifor agreement covers 5,680 Ford employees at the Oakville SUV plant, Windsor engine plants, and distribution centres in Ontario and Edmonton. The ratification, announced Sunday, sets the stage for the union's talks with the other two Detroit-based automakers, Stellantis and General Motors, which have not yet started. Unifor national president Lana Payne said: "Priorities met! Pattern set." K. Venkatesh Prasad, vice-president of research at the Center For Automotive Research, said the thin approval -- with 54 per cent voting in favour of the contract -- could signal that workers are reacting to the uncertainty brought on by the coming transition to electric vehicles. Ford said the three-year pay raises are the largest for the automaker's workers in Canada, and three times the increase in 2020. Centre for Future Work director Jim Stanford says, "Workers are angry, and rightly so."

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