UAW Reaches Tentative Agreement With Ford

(RTTNews) - The United Auto Workers union said it has reached a tentative agreement with Ford Motor Co. (F) after 41 days on strike at the Big Three companies.

In a Separate press release, Ford confirmed that it has reached a tentative agreement on a new labor contract with the UAW covering its U.S. operations. The agreement is subject to ratification by Ford's UAW-represented employees.

Ford said it is focused on restarting Kentucky Truck Plant, Michigan Assembly Plant and Chicago Assembly Plant, calling 20,000 Ford employees back to work and shipping its full lineup to its customers again.

Meanwhile, the UAW confirmed that Ford workers will return to work while the agreement goes through the ratification process, with the UAW National Ford Council convening in Detroit to review the agreement.

However, the Stand Up strike continues at Stellantis and GM, where members fight for a fair agreement.

According to UAW, the gains in the Ford agreement are valued at more than four times the gains from the 2019 contract, and provide more in base wage increases than Ford workers have received in the past 22 years. The agreement grants 25% in base wage increases through April 2028, and will cumulatively raise the top wage by over 30% to more than $40 an hour, and raise the starting wage by 68%, to over $28 an hour.

UAW noted that the lowest-paid workers at Ford will see a raise of more than 150% over the life of the agreement, with some workers receiving an immediate 85% increase immediately upon ratification.

The UAW said the agreement reinstates major benefits lost during the Great Recession, including Cost-of-Living Allowances and a three-year Wage Progression, as well as killing divisive wage tiers in the union. It improves retirement for current retirees, those workers with pensions, and those who have 401(k) plans. It also includes a historic right to strike over plant closures, a first for the union.