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Position: Auto Articles - [Auto News] - UAW to the Ford Executives earnings - unjustified and excessive
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UAW to the Ford Executives earnings - unjustified and excessive
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On Friday, Ford revealed it paid its top five executives with over $60 million last year, and that kind of a compensation is not sitting very well with the United Auto Workers. Ron Gettelfinger 鈥� the UAW President responded to the Friday announcement of Ford by naming the pay awarded to top executives as `excessive and unjustified`.
During the newest round of contract negotiations, UAW gave Ford a few concessions with the hopes of being able to turn the North American carmaker around. Not that surprising, UAW is upset that Ford had spent some of its work saving on compensating the executives rather than re-investing in its own North American operations.
鈥淥ur members at Ford agreed to substantial sacrifices in 2007 to help Ford survive, so the company can rebuild and reinvest in the United States,鈥� Gettelfinger affirmed in a statement unveiled on Friday. 鈥淲e did not sacrifice so that management could find a way to reward themselves with higher compensation鈥�.
This situation appears like it could really get messy and we're sure that this isn't the last one we'll hear, on the subject, from Mr. Gettelfinger.
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