The United Auto Workers union reached a tentative labor deal with Ford, the first of Detroit's Big Three car manufacturers to negotiate a settlement to strikes joined by 45,000 workers.
The proposed accord, which UAW's leadership must still approve, provides a 25% wage hike over the 4-1/2-year contract, starting with an initial increase of 11%.
The Ford deal, which could help create a template for settlements of parallel UAW strikes against General Motors (GM.N) and Chrysler parent Stellantis (STLAM.MI), would amount to total pay hikes of more than 33% when compounding and cost-of-living mechanisms are factored in, the UAW said.
well how do you like that.. it sounds like there might actually be enough money for them to pay workers after all.. how the heck do you think they managed to find it all of a sudden like that?
This will only make Ford slowly and quietly move their operations to countries that don't have unions. Should take them about 4 and a half years to do it.