Union auto workers and Ford Motors have reached a tentative agreement that would put the brakes on a nearly six-week strike at the carmaker, the union said.
The tentative four-year deal was announced Wednesday night and now needs to be ratified by a majority of Ford’s 57,000 union workers.
The UAW and Ford agreed to increase worker wages by at least 25% over the duration of the deal, cost of living adjustment and other improved benefits.
“Today we reached a tentative agreement with Ford,” UAW President Shawn Fain said in a video on social media, calling it a “major victory.”
Temporary workers will get raises of more than 150% and annual bonuses would go to retirees, UAW Vice President Chuck Browning said. Starting pay would also go up by 68%, the union said.
United Auto Workers members strike at the Ford Michigan Assembly Plant on September 16. Getty Images
United Auto Workers President Shawn Fain raises his fist at a rally.AP
Bargaining reportedly ratcheted up this week as the two sides came closer to a deal.
The new deal between Ford and the union could be used in contract negotiations between GM and Stellantis. In past auto strikes, a UAW deal with one automaker has led other companies to those terms.
With Post wires
Source link: https://nypost.com/2023/10/25/business/ford-and-united-auto-workers-reach-agreement-that-would-end-6-week-strike/