With the deadline to reach a deal now just a day away, Ford says the company has given the UAW its “most generous offer in 80 years.'
Ford CEO Jim Farley discussed the proposal Tuesday outside an event unveiling the new F-150 ahead of the North American International Auto Show in Detroit.
"Pay increases, elimination of tiers, inflation protection, five weeks of vacation, 17 paid holidays, bigger contributions for retirement," he said.This Thursday, the UAW collective bargaining agreement will end, meaning a strike is likely for the roughly 146,000 employees of Detroit's Big Three. Union members will get some pay while on strike and are eligible for some benefits while on strike – but here's a breakdown of how that all pays out.
Though this offer includes pay increases and inflation protection, Farley did not go into specifics about those numbers. Other automakers have also offered inflation protection in the form of lump sum payouts. In a previousFarley called the new deal a "significant enhancement."UAW President Shawn Fain has broken with the decades-long tradition of focusing in on one target automaker to bargain with ahead of a new deal, and car industry analysts are studying it all.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stellantis reports progress in talks with auto workers and plans to make another offer MondayUAW President Shawn Fain on Friday called counter offers from Stellantis, General Motors and Ford inadequate.
Read more »
If auto workers strike, will used-car prices increase? Will a UAW strike provide an opportunity for Tesla?The current UAW contract with Ford, General Motors and Stellantis expires within days.
Read more »
The 4 key reasons why the UAW could strike GM, Ford and Stellantis this weekTime is running short to avoid a strike at America’s three unionized automakers, and the distance between the United Auto Workers union and the companies remains large.
Read more »
Ford, GM, Stellantis dealerships brace for potential UAW strikeAs the deadline approaches for Detroit's Big Three automakers to reach new contract agreements with the United Auto Workers or face a strike, dealerships prepare for impact.
Read more »
UAW ready to negotiate around the clock as strike deadline nears By ReutersUAW ready to negotiate around the clock as strike deadline nears
Read more »
For Auto Workers, It Isn’t Just About PayThe UAW is pressing for a better work-life balance during contract talks.
Read more »