Ford, UAW Adjourn Talks; Deal Close?
November 01, 2007

Negotiators for Ford and the UAW adjourned their marathon bargaining session in the wee hours of Thursday morning, but the buzz is the two sides are close to a deal. Talks resume later Thursday morning.

It is speculated that Ford may agree to close fewer U.S. plants than it had previously announced in exchange for increased cost savings from the union.

As part of its Way Forward restructuring plan, Ford said it would close 16 North American plants and eliminate an additional 8,000 to 10,000 jobs on top of the previous 27,000 jobs cut. Ford has not named all of the plants scheduled for closure.

Analysts fear Ford’s retreat on plant closures will jeopardize the automaker’s turnaround plan.

Ford wants to reach a contract with the UAW without a strike, as experienced by General Motors and Chrysler. At the moment, the two sides have agreed to an indefinite extension to the contract, which expired Sept. 14. That extension could end with a 72-hour notice by either side.

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