October 04, 2011 1:11 PM

Ford Said to Pay UAW Members $9,700 in Bonuses This Year

Oct. 4 (Bloomberg) -- Ford Motor Co. will pay most of its United Auto Workers-represented employees a $6,000 signing bonus and $3,700 in additional profit sharing this year, people familiar with terms of their tentative four-year agreement said.

Workers with a year or less of service will get a $5,000 signing bonus, said three people familiar with the agreement who asked not to be identified before the union announces the details. Ford will also make annual $1,500 payments to its UAW workers, which take the place of cost-of-living adjustments in their pay, one of the people said.

Ford committed to adding 12,000 hourly jobs in its U.S. manufacturing plants by 2015 as part of the agreement, the Dearborn, Michigan-based company said this morning. The figure includes 5,750 more UAW jobs than a previously announced 6,250 hourly positions to be added by the end of 2012, Executive Vice President John Fleming said at a news conference. The agreement is subject to a ratification vote by Ford's 41,000 U.S. hourly workers.

“This agreement recognizes that Ford would not have turned the corner had it not been for the commitment and dedication of its workers,â€