The United Auto Workers (UAW) and Ford Motor Company have recently reached a tentative agreement on their 2019 contract negotiations, marking an important step forward for both sides.

The new contract, which is still awaiting ratification by UAW members, includes a number of significant changes and improvements for Ford`s hourly workers. These changes include a wage increase of over 6%, as well as a signing bonus of $9,000 per worker. In addition, Ford has agreed to invest over $6 billion in its U.S. manufacturing facilities, creating thousands of new jobs and ensuring long-term job security for workers.

One of the most significant changes in the new contract is the creation of a new health care co-op, which will be jointly managed by the UAW and Ford. This co-op will be responsible for negotiating health care benefits and costs on behalf of both the union and the company, ensuring that workers have access to high-quality health care coverage at an affordable price.

Another major change in the new contract is the expansion of Ford`s profit-sharing program, which will now include all of its hourly workers. Under the new program, workers will be eligible to receive a share of the company`s profits based on their individual performance and the overall performance of the company.

Overall, the new UAW contract with Ford represents a significant win for both workers and the company. It provides substantial benefits and improvements for workers, while also ensuring that Ford remains competitive and profitable in a rapidly changing industry. With the ratification process now underway, it`s clear that the UAW and Ford have taken an important step forward together.