Ford and the United Auto Workers (UAW) have reached a tentative agreement to end the strike that has been ongoing since October 4th.
The agreement includes a record pay raise, as well as other improvements to wages, benefits, and working conditions.
Here are some of the key details of the agreement:
A 25% general wage increase, plus cost-of-living raises that will put the pay increase over 30%. This is the largest pay raise in UAW history.
Elimination of all wage tiers. This means that all workers will be on the same pay scale, regardless of their experience or job title.
Increased starting pay for new hires to $21 per hour.
Conversion of all temporary workers to permanent employees after three months of continuous service.
Increased profit-sharing payments.
Improved retirement benefits.
More paid time off.
The agreement also includes a number of provisions related to electric vehicles. For example, Ford has agreed to invest $600 million in electric vehicle training for UAW members. Ford has also agreed to give UAW members priority placement in new electric vehicle jobs.
The tentative agreement will now go to the UAW membership for a vote. If the agreement is ratified, it will end the strike and Ford’s factories will resume production.
The agreement is a significant victory for the UAW. It provides workers with a significant pay raise, improved benefits, and better working conditions. The agreement also shows that the UAW is still a powerful force in the American labor movement.
It will be interesting to see how the Ford agreement affects the negotiations between the UAW and General Motors and Stellantis. These two automakers are also currently on strike. It is possible that the Ford agreement will set a precedent for the other two automakers.