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.

  • girlfreddyOP
    61·
    1 year ago

    They found spare change from all the couches in executives’ offices?

    /s