June 25, 2024

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UAW crows that its strike against automakers paved victory on 8 key demands including ‘things no one thought possible’

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The union has given some details of the deals, including a detailed explanation of the agreement it reached with Ford. The agreement is expected to become the model for later settlements with GM and Stellantis. Rank-and-file UAW members must ratify each contract before it takes effect.

“We won things no one thought possible,” UAW President Shawn Fain said when he announced the tentative agreement last week.

The union represents 57,000 workers at the company, and about 16,600 of them were on strike. Here are the key terms of the agreements, as detailed by the union:PAY

The tentative agreements call for 25% increases in pay by April 2028, raising top pay to about $42 an hour, according to the union. That starts with an 11% boost upon ratification, three annual raises of 3% each, and a final increase of 5%. The UAW said restoration of cost-of-living increases, which were suspended in 2009, could boost the total increases to more than 30%.

The union initially asked for 40% increases, but scaled that back to 36% before the strike started Sept. 15. Ford’s last offer before the strike was 9% more pay over four years. More recently, Ford, GM and Stellantis were all offering 23% total pay increases.

For historical comparison, the union said its workers saw pay increases of 23% for all the years from 2001 through 2022.

BONUSES

The deals include $5,000 ratification bonuses.

TEMPORARY WORKERS

The union said Ford’s temporary workers will get pay raises totaling 150% over the life of the deal, and workers at certain facilities will also get outsized raises. The temporary workers will also get the ratification bonuses and will get profit-sharing starting next year, officials said.

BENEFITS

The companies did not agree to bring back traditional defined-benefit pension plans or retiree health care for workers hired since 2007. But they agreed to increase 401(k) contributions to about 9.5%.

SHORTER WORK WEEK

The UAW asked for a…

The Associated Press

2023-10-30 20:28:11

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