The deal comprises a 4 per cent rise on standard grade rates effective 24 November 2002 and, a year later, a further increase of 3 percent or a percentage equal to any RPI increase plus 0.5% - whichever is greater. The package also includes a rise in pension contributions and agreements on paternity/ maternity/adoption leave and attendance allowances.
Maria Antoniou, Ford's HR director said: “The objective in these pay talks has been to reach an agreement with our unions that is fair and provides the best framework for going forward for Ford employees and the company's operations in the UK. The agreement is based on a two-year deal that gives stability to enable Ford teams in the manufacturing plants to focus on achieving best-in-class levels of performance.”
The unions have recommended that their members accept the deal.