Ford Employee Union agrees for settlement package

Chennai: An year after announcing to wind up its Chennai operations by the second quarter of this year, auto major Ford India and the Chennai Ford Employees Union (CFEU), representing 2592 hourly permanent employees, has executed a Settlement Agreement, concluding the negotiations on the severance settlement package.“The severance settlement agreement, signed between
Ford and the Chennai Union last evening is an important milestone and a win-win for everyone involved”, Ford India Transformation Officer Balasundaram Radhakrishnan said. “I thank the team at Ford as well as the Chennai FordEmployees Union for negotiating in good faith and arriving at a settlement outcome that keeps the best interest of employees at heart”, he said.