Visteon Corporation and the United Auto Workers signed a seven-year Visteon Supplemental Agreement on 6 May 2004 covering new employees at Visteon“s UAW Master Agreement facilities. The two parties a…
Visteon Corporation and the United Auto Workers signed a seven-year Visteon Supplemental Agreement on 6 May 2004 covering new employees at Visteon“s UAW Master Agreement facilities. The two parties announced a tentative agreement on 29 April 2004. Under the deal, Visteon will hire new employees at wage and benefit levels significantly below UAW-Ford Master Agreement rates, improving the company“s competitive position. “We are pleased to have worked cooperatively with the UAW to reach an agreement that improves our cost structure while providing opportunities for future UAW-represented employees,” said Robert H. Marcin, Visteon senior vice president, corporate relations. “This is an important step in our continuous drive to be a globally competitive Tier 1 automotive supplier.” The agreement covers employees at Visteon“s 15 UAW Master Agreement facilities in the United States. Under terms of the agreement, the starting wage will be USD 14 per hour, and the full rate will be up to USD 18.50 per hour. The agreement also includes more cost-competitive health care, pension and post-retirement medical benefits.