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Ford And UAW Finally Reach New Contract Agreement Ending Strike

Ford and United Auto Workers (UAW) have reached a tentative deal for a contract agreement, effectively ending the strike. GM and Stellantis (Chrysler) however, have not reached a deal and the strike is still in effect against them. News outlets were reporting that UAW was asking for a wage raise of up to 40% while the Big Three automakers countered with something around 20%. Either number would cause a near-immediate rise in cost to the consumer for new vehicles and auto parts.

The deal Ford struck with UAW includes a 25% pay hike over 4.5 years. That number rises to a 30% increase with cost of living adjustment. This deal appears to be a middle ground between the wage increase UAW was asking for and the counter-offer Ford and the other automakers offered. Lower-tier wages were also eliminated, which was a big part of the protest at Ford. Under these tiers, people who worked in certain departments at Ford would get paid much less than people in the tiers above them. Retirees also get access to more profit sharing.

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SOURCES:

Ford, UAW reach tentative deal to end labor strikes – YouTube

Ford, UAW reach tentative deal to end strike including record pay raise | Reuters

UAW President Shawn Fain: We’ve got a tentative deal with Ford

United Auto Workers union and Ford reach tentative labor agreement | CNN Business

Here’s what the UAW deal with Ford means for General Motors and Stellantis – ABC News

U.A.W. and Ford Reach Tentative Contract Agreement – The New York Times

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