Ford, UAW reach tentative deal to end strike including record pay raise
Ford, UAW reach tentative deal to end strike including record pay raise
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.
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Sounds about right. I know of a current strike where workers are asking nearly 25%.
This hike in living expenses needs wages to catch up since no one seems willing to roll back to normal on “supply chain” hikes during COVID.
'roll back'" fk that, they're still going up.. and up.. and up.