After reaching a conclusion with General Motors last week to end a crippling 40-day-long strike, the United Auto Workers wasted little time in identifying their next target for collective bargaining. But the prospect of a similar strike at Ford has been all but completely put to rest in a much shorter time frame.

Just a week after entering negotiations, both the automaker and the union representing its workers announced that they've reached a tentative agreement. With the UAW's National Ford Council having already given its rubber stamp, the deal will now be presented to the members of its constituent locals for ratification.

Exact details of the proposed agreement have not been made public. But as UAW Vice President (and head of its Ford department) Rory Gamble revealed, "This contract provides over $6 Billion in new product investment creating and retaining over 8,500 jobs." Ford and the UAW also agreed to "significant gains" for union members to transition from temporary to full-time and full-pay status, as well as assurances towards health-care benefits and job security.

"UAW Ford members have created an environment for growth in products and jobs, and a serious commitment by Ford Motor Company to grow their footprint right here in the US," said UAW President Gary Jones.

Local unions will begin this week to discuss and vote on the deal in a process that will conclude on November 15 so that member-workers can continue producing popular models like the F-150, Edge, and Mustang. After that, the UAW can begin negotiating with Fiat Chrysler, but the union's president won't be around that long.

Along with the proposed Ford deal, the union announced that Gary Jones "has asked for a leave of absence," cutting short a tenure that began just last year – far shorter than the four years over which each of his two immediate predecessors presided. In his place, VP Rory Gamble (who lead the Ford negotiations) will take over as acting president.