DETROIT (Reuters) - Ford Motor Co.'s new tentative labor deal with the UAW paves the way for the automaker to improve its competitiveness, particularly in retiree health care and work-rule flexibility, a top Ford executive said today.
"I can say with conviction it's fair for employees, retirees ... and it allows us to increase our competitiveness," said Mark Fields, president of Ford's Americas division.
"It helps us with retiree health care, flexibility of work rule," he told reporters at a product event in Dearborn, Mich.
The struggling U.S. automaker and the UAW reached an agreement early Saturday after more than 40 hours of bargaining at Ford's Dearborn headquarters.
UAW leaders and local presidents are meeting today to discuss the tentative pact.