UAW and Ford Reach Historic Tentative Deal

Highlights of the Agreement

• The United Auto Workers union has secured a tentative contract agreement with Ford Motor Company.
• If ratified, this deal promises a historic 25% wage increase for union members and up to a 150% raise for temporary workers.
• Ford aims to resume operations at key plants in Kentucky, Michigan, and Chicago, recalling 20,000 employees.
• Economic analysts estimate the strike against Detroit's major automakers has caused over $9.3 billion in losses.

The United Auto Workers (UAW) union announced a tentative agreement with Ford Motor Company, signaling a potential end to a six-week strike impacting thousands of workers across multiple plants.

UAW President Shawn Fain and Vice President Chuck Browning revealed on social media that the proposed contract, extending through 2028, includes a historic 25% wage increase for unionized employees. Temporary workers, who have long faced challenges, stand to receive raises up to 150%, with some seeing immediate increases of 85% upon ratification.

Top-tier wages are set to rise approximately 33% to $40 per hour, while starting pay could climb by nearly 68% to $28 per hour, marking this as one of the most lucrative agreements in recent decades.

Pending approval from union members and leaders, this deal would be the first settlement among strikes involving 45,000 workers targeting General Motors, Ford, and Stellantis since mid-September. Ford’s contract, valid until April 30, 2028, will likely set a precedent for negotiations with the other automakers.

Ford CEO Jim Farley expressed satisfaction with the agreement and emphasized the company’s focus on resuming production at the Kentucky Truck Plant, Michigan Assembly Plant, and Chicago Assembly Plant, bringing 20,000 employees back to work.

The strike has inflicted significant economic damage, with estimates exceeding $9.3 billion in losses as reported by Anderson Economic Group, LLC.

Financial analyst Dan Ives celebrated the breakthrough on social media, noting that Ford and UAW have resolved their dispute after a challenging 40 days. He anticipates that General Motors and Stellantis could reach agreements soon, potentially within the next week.

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