DETROIT — Ford Motor Co. CEO Jim Farley late Tuesday said the company's latest contract proposal presented to the UAW is the "most generous offer in 80 years" and includes a number of union priorities, although a four-day work week is not among them.
Farley, speaking after Ford introduced the freshened 2024 F-150, said the company is offering the UAW pay increases, the elimination of tiered wages, inflation protection, five weeks of paid vacation, 17 paid holidays, bigger contributions for retirement and investments in each of its U.S. plants.
He did not provide specifics.
"It's a significant, significant enhancement," Farley said. "I'm still optimistic we'll get a deal, but there is a limit because we have to protect for the future and future investments, and the profitability of the company funds those."