Visteon Corporation announced a tentative agreement on a Visteon Supplemental Agreement with the United Auto Workers for future hires at its UAW Master Agreement facilities.
The seven-year agreement will allow Visteon to hire new workers at wage and benefit levels significantly below current Ford-UAW Master Agreement rates.
"We are pleased to reach an agreement that helps improve Visteon's competitive position and one that is fair to future UAW-represented employees," said Michael F. Johnston, Visteon chief operating officer and president. "Visteon is driven to deliver high-quality products to our customers at competitive prices. As a result of transitioning to a more competitive cost structure in our UAW facilities, we will be better positioned to compete for and win new business."