Ford and unions reach tentative deal to end strike

[New Sancai Compilation First] United Auto Workers (UAW) President Shawn Fain said on October 25 that Ford Motor Company and union negotiators have reached a temporary labor agreement after a six-week strike. , this 4.5-year contract will bring a record salary increase.

The agreement, which requires approval by union leaders and members, would be the first settlement in a strike by 45,000 workers that began on September 15 against Ford, General Motors and Chrysler parent Stellantis.

Fein said the UAW reached a historic agreement with Ford that included a 25% wage increase over the life of the contract.

If the contract is approved by Ford workers, it would set the standard for negotiations between GM and Stellantis and would expire on April 30, 2028.

Ford's contract would bring record pay raises to UAW workers and reverse concessions the union had agreed to in a series of contracts since 2007, when General Motors and the former Chrysler were sliding toward bankruptcy and Ford mortgaged its assets to stay afloat. livelihood.

"This sets the stage for the next two contracts, which should be agreed upon very quickly because the gaps between the three contracts are very small," said Sam Fiorani, vice president of global vehicle forecasting at AutoForecast Solutions.

"The strike has been painful for everyone so far, and knowing what it takes to get a contract signed should get them back to the negotiating table faster," he said.

The UAW is ramping up pressure on the companies by striking their most profitable plants: General Motors' assembly plant in Arlington, Texas; Ford's heavy-duty pickup plant in Kentucky; and Stellantis' Ram pickup truck in Sterling Heights, Michigan. factory.

Anderson Economic Group said earlier this week that the total economic losses caused by the auto workers' strike reached $9.3 billion.

(Compiled by: Wang Jimin)

(Editor: Jiang Qiming)

(Source of the article: First published by Xinsancai)