The UAW announces that Local 900 voted 82% in favor of the new labor contract.
The labor negotiations this year between the United Auto Workers and the Detroit Three auto makers are oh-so-close to being wrapped up. Investors are all but assured that no more nasty surprises await.
Local 900 represents workers at Ford Motor ‘s Michigan Assembly Plant. The local union was the first local to walk off the job at Ford back on Sept. 15. The UAW struck all three auto makers at once with workers leaving one facility each at Ford, General Motors , and Chrysler parent Stellantis . Positive early voting outcomes should give investors some confidence that the new deal will be ratified. If it is, the contract will run through April 2028 and include general wage increases of about 25% over the life of the contract including other adjustments for inflation. Workers get an immediate 11% bump in pay upon ratification.
It takes a couple of weeks to go from a tentative agreement to a finalized deal. The UAW Stellantis National Council met in Detroit on Thursday, according to the Union. The UAW GM Council is slated to meet on Friday. Council meetings are a step the UAW takes before sending the deals to members for a vote.
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