The United Auto Workers union and Ford have reached a tentative agreement in principle, which could signal the end of the nearly six-week strike with the Big Three automaker. The agreement includes a 25% general wage increase over the life of a new four-year contract, with cost-of-living pay increases potentially lifting the total pay raises above 30%. Ratification of the agreement with all three automakers is needed before the strike can officially end, and the estimated $2 billion in lost production can be recovered.
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Thousands of United Auto Workers (UAW) members have gone on strike against Detroit's Big Three automakers, General Motors (GM), Ford, and Fiat Chrysler, impacting GM's profits and causing the company to withdraw its 2023 profit forecast. On Tuesday, 5,000 workers from the Arlington Assembly Plant in Texas joined the strike, and the UAW has created a loan program and website to provide resources to its members. The strike is ongoing and it is unclear when it will end.
Key takeaways: General Motors has agreed in writing to include electric battery manufacturing in the next contract between GM and the union. The strike has…
The United Auto Workers (UAW) has announced the expansion of its strike at Ford and General Motors to include another 7,000 workers, bringing the total number of striking workers to over 50,000. The strike is in response to the automakers' refusal to make meaningful progress in negotiations over wages, job security, and health care benefits. GM has estimated that it has lost $2 billion in profits since the strike began, and the union is hoping that the additional 7,000 workers will help to pressure the automakers into making a deal.