{"id":6463,"date":"2023-10-28T18:20:18","date_gmt":"2023-10-28T18:20:18","guid":{"rendered":"https:\/\/infundpros.com\/business\/uaw-reaches-tentative-agreement-with-stellantis\/"},"modified":"2023-10-28T18:20:18","modified_gmt":"2023-10-28T18:20:18","slug":"uaw-reaches-tentative-agreement-with-stellantis","status":"publish","type":"post","link":"https:\/\/infundpros.com\/?p=6463","title":{"rendered":"UAW reaches tentative agreement with Stellantis"},"content":{"rendered":"
\n

\n The United Auto Workers union has reached a tentative agreement with Stellantis, which makes vehicles under the Dodge, Ram, Chrysler and Jeep brands, a source familiar with the negotiations told CNN.\n <\/p>\n

\n Although union negotiators and the automaker have a deal, it still needs to be presented to and signed off by union leadership before it is announced. That could happen later Saturday.\n <\/p>\n

\n The tentative agreement with Stellantis Saturday follows a similar deal reached with Ford Wednesday. Neither is official, as they both need to be ratified by a vote of rank-and-file UAW members at the companies before they will take effect.\n <\/p>\n

\n The terms of the agreement with Stellantis were not yet known. Both Stellantis and the union declined to comment.\n <\/p>\n

\n The source also said that negotiators are close to a tentative agreement with General Motors. The union and GM declined to comment on their negotiations.\n <\/p>\n

\n The Ford deal\u00a0will\u00a0give members an immediate 11% raise upon ratification, and additional increases that will provide workers a total of 25 percentage points of pay hikes by the time the contract expires in early 2028. In addition, workers will have a return of cost-of-living adjustments made to their hourly pay rate to protect them against price increases.\n <\/p>\n

\n The automakers typically offer union members similar deals across companies, so the Stellantis and GM negotiations are expected to yield similar benefits for the autoworkers.\n <\/p>\n

\n If the agreements are reached, it would likely put an end to the longest autoworkers strike in 25 years.\n <\/p>\n

\n The ratification process at Ford is due to start Sunday with a meeting in Detroit of local union officials who represent Ford workers around the country. While the deal includes record gains for the union, with double-digit pay increases, ratification is not certain.\n <\/p>\n

\n When the cost-of-living adjustments and guaranteed raises are combined, they are expected to raise Ford workers\u2019 wages 30% or more. There will be even bigger pay increases for workers now in a lower pay tier, for temporary workers and for starting pay.\n <\/p>\n

\n The union has also won improved pension benefits for senior workers who have a traditional pension plan, and increased company contributions to 401 (k) accounts of workers hired since 2007. But the union did not get its goal of a resumption of traditional pension plans for those post-2007 hires, or for a return of retiree health care coverage.\n <\/p>\n

\n This is a developing story. It will be updated.<\/em>\n <\/p>\n<\/p><\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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