• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Editor's Pick UAW members approve 4½-year contract with Detroit’s Big Three
Editor's Pick

UAW members approve 4½-year contract with Detroit’s Big Three

by November 17, 2023
by November 17, 2023 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

Union members at Ford, Stellantis and General Motors have ratified a new 4½-year contract, locking in at 11% pay increases secured after a six-week strike in September and October.

The United Auto Workers said that roughly 67% of Ford employees represented by the UAW voted in favor of the contract, which will last through April 30, 2028.

Voting officially ends Friday, but with around 57,000 union employees at Ford, the contract appeared headed toward easy ratification.

The contracts were negotiated after members of the UAW went on strike from Sept. 15 until late October.

Union members will get a total pay increase of 25% over the course of the deal. The new contracts also reinstate cost-of-living adjustments, let workers reach top wages in three years instead of eight and protect their right to strike over plant closures.

Both the UAW and the carmakers described the deals as “record” contracts based on those pay increases. The union also said members were regaining some of the benefits they agreed to give up after the Great Recession to help keep the automakers alive.

Workers at GM approved the contract, but they did so by a much narrower margin than Ford’s employees did, with about 55% of workers voting yes.

While UAW President Shawn Fain has called the contacts a victory for workers, he has also said they are part of a larger plan to win back more benefits over the long haul.

According to the UAW’s ratification vote tracker, Stellantis employees were on pace to approve the deal at margins similar to Ford workers. With 17,391 votes tallied as of Thursday evening ET, about 66% of ballots had been cast in favor of accepting the contract.

While the general terms of the contracts are similar, workers at Detroit’s Big Three automakers are voting to accept or reject them independently.

This post appeared first on NBC NEWS
You Might Also Like
  • Amazon set to pass Walmart in revenue for first time
  • Hasbro laying off 1,100 workers as weak toy sales persist into holiday season
  • Paramount special committee extends Skydance ‘go shop’ period as it reviews Bronfman offer
  • Alaska Airlines and United Airlines returning Boeing 737 Max 9 jets to service
Share
0
FacebookTwitterPinterestWhatsapp

previous post
The Case for Small-Caps as Major Indexes Test Overbought Conditions
next post
New Jersey Democrat organization that Sen Menendez used to chair endorses Tammy Murphy

You may also like

Boeing and Airbus may have used ‘counterfeit’ titanium in planes,...

June 17, 2024

From strikes to new union contracts, Labor Day’s organizing roots...

September 7, 2023

Hertz says 2024 hack exposed some customers’ driver license and...

April 15, 2025

California jury finds Tesla Autopilot did not fail in crash...

April 23, 2023

Starbucks to face lawsuit alleging its Refresher fruit drinks are...

September 22, 2023

Are consumers pulling back on spending? It depends which CEO...

May 21, 2024

Walmart will likely raise some prices if Trump tariffs take...

November 19, 2024

Paramount says CEO Bob Bakish is stepping down, will be...

May 1, 2024

Judge tosses defamation suit against Fox News by head of...

July 23, 2024

‘Absurd’: NTSB chair blasts Boeing for failing to turn over...

March 8, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Krispy Kreme stock plunges after doughnut chain pauses McDonald’s rollout, pulls outlook

      May 8, 2025
    • Don’t Buy Robinhood Stock… Until You See This Chart Setup

      May 8, 2025
    • UnitedHealthcare sued by shareholders over reaction to CEO’s killing

      May 8, 2025
    • The Unpredictable Stock Market: How to Make Sense of It

      May 8, 2025
    • AMD CEO calls China a ‘large opportunity’ and warns against strict U.S. chip controls

      May 7, 2025

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,633 views
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,339 views
    • 3

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 2,321 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,303 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,186 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,066)
    • Investing (538)
    • Stock (2,530)

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 3

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • Krispy Kreme stock plunges after doughnut chain pauses McDonald’s rollout,...

      May 8, 2025
    • Don’t Buy Robinhood Stock… Until You See This Chart Setup

      May 8, 2025
    • UnitedHealthcare sued by shareholders over reaction to CEO’s killing

      May 8, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,066)
    • Investing (538)
    • Stock (2,530)

    Disclaimer: RoundTableThoughts.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    Mars to acquire snack maker Kellanova...

    August 14, 2024

    The installed base of fleet management...

    December 20, 2022

    Amazon is stepping up to fill...

    May 1, 2025
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here