Ford: agreement in principle reached with UAW Union
(CercleFinance.com) - Ford confirmed on Wednesday evening that it had reached an agreement in principle with the United Auto Workers (UAW) union, raising the prospect of an end to the strike that has been affecting some of its plants for over six weeks now.
The car maker did not detail the terms of the new agreement, but the UAW refers on its website to across-the-board wage increases of around 25%.
Taking into account the cost-of-living adjustment (COLA), the wage increase could exceed 30%, or more than $40 an hour, the UAW adds.
The draft agreement, which has yet to be ratified by the union's members, should enable the 20,000 employees at the Kentucky, Michigan and Chicago sites, currently at a standstill, to return to work.
Similar agreements have yet to be reached at Stellantis and GM.
Copyright (c) 2023 CercleFinance.com. All rights reserved.
The car maker did not detail the terms of the new agreement, but the UAW refers on its website to across-the-board wage increases of around 25%.
Taking into account the cost-of-living adjustment (COLA), the wage increase could exceed 30%, or more than $40 an hour, the UAW adds.
The draft agreement, which has yet to be ratified by the union's members, should enable the 20,000 employees at the Kentucky, Michigan and Chicago sites, currently at a standstill, to return to work.
Similar agreements have yet to be reached at Stellantis and GM.
Copyright (c) 2023 CercleFinance.com. All rights reserved.