IN BRIEF (Page 16)

Ford-UAW deal cuts wages

Ford Motor Co expects operating savings of $500 million per year from an agreement with the United Auto Workers that also will make its labor costs competitive with Japanese rivals, the company said.

The agreement trims average wages and benefits for UAW hourly workers to about $55 per hour this year, from more than $70 per hour when Ford was negotiating a watershed contract with the union two years ago.