DETROIT - Union leaders have approved a tentative contract agreement with Ford Motor Co. (F).
Ford workers must now vote to ratify the agreement. The four-year deal covers 53,000 workers at 22 U.S. plants.
Like contracts at GM and Fiat Chrysler, the pact eliminates a two-tier wage structure at Ford's plants over eight years. It also extends full health benefits to lower-tier workers.
Top-tier workers would get their first pay raise in a decade.
The agreement promises $9 billion in U.S. plant investments over four years.
Ford workers will get an $8,500 bonus if the contract is ratified, higher than bonuses negotiated at GM and Fiat Chrysler.