Ford Agrees to 25% Wage Hike in Tentative Deal to End Strike (1)

The United Auto Workers has reached a tentative labor agreement with Ford Motor Co., putting pressure on the carmaker’s two chief rivals to end a protracted strike that has cost the industry billions of dollars.

Ford agreed to a record 25% hourly wage hike over the life of the contract, which exceeds four years. With cost-of-living allowances, the top wage rate is expected to increase by 33%. The top pay will be over $40 an hour, the union said.

Ford, which has the largest UAW workforce among Detroit’s three legacy automakers, was the first company to offer a counter-proposal ...