UAW Contract Talks: On Tuesday, UAW President Shawn Fain said that the union’s contract talks with the Detroit Three automakers centered on extensive benefit upgrades. All workers get set retirement and double-digit wage growth.
Four-year contracts end September 14. Chrysler’s parent Stellantis (STLAM.MI), received UAW economic demands on Tuesday. Fain said the UAW would make similar presentations to G.M. (GM.N) and Ford (F.N.) on Wednesday and Thursday.
Plans include making all temporary employees at U.S. automakers full-time, tighter use limitations, and more paid time off.
Fain thinks all workers should have defined-benefit pensions and retiree payouts should rise. The labor union president called the requests “the most audacious and ambitious list of proposals they’ve seen in decades” on Facebook Live. Fain thinks the Detroit Three CEOs’ salaries have risen 40% in four years.
He referenced General Motors CEO Mary Barra, who made $29 million in 2022. He said it would take an entry-level worker at a G.M. joint venture battery production 16 years to achieve her weekly salary.
Read More: Allstate Corporation Loss: Rising Claims Lead to Bigger Hit
Fain sought cost-of-living increases and retiree health care delays. He stated the United Auto Workers (UAW) intended to strike over plant closings and end the two-tier pay system that pays recruits 25% less than experienced workers. He said both.
He said the Teamsters’ new UPS (UPS.N) deal abolished salary levels. Demotions are wrong. Fain said, “We can’t allow it any longer,” when asked about the Detroit Three’s request.
Stellantis reported a “very productive meeting” with Fain and the negotiating group. It said it would compare the union’s demands to the company’s to find a solution.
Stellantis said, “We’re not looking for a deal that gives us anything.” Wednesday, G.M. committed to studying UAW requests.
Ford is “looking forward to working with the UAW to find creative solutions at a time when our rapidly changing industry needs a skilled and competitive workforce more than ever.”
Fain also suggested that Detroit Three increase battery joint venture wages. He praised Democratic senators for convincing corporations to incorporate such staff in master contracts last week. Fain also urged the Detroit Three to increase battery joint venture wages.
Our Reader’s Queries
What is the latest on UAW negotiations 2023?
The UAW has confirmed that the GM-UAW tentative agreement, which was reached on October 30, 2023, has been approved by the UAW members. For more information, check out the video update from Gerald Johnson by clicking below.
What is the new contract offer for UAW?
The recent agreement between the UAW and GM is set to bring a significant boost to base wages, with a 25% increase in effect until April 2028. This will result in a cumulative rise of 33% for the top wage, which will be further compounded by estimated cost-of-living adjustments, bringing it to over $42 per hour.
What was Ford’s latest offer to the UAW?
Ford has recently announced a new offer that is sure to please its employees. The offer includes a 25% wage increase over a four-and-a-half-year contract, along with restored cost-of-living adjustments. Additionally, the two-tiered wage system at two of Ford’s plants will be eliminated. This is great news for workers who have been waiting for fair compensation and equal treatment. With this new offer, Ford is showing its commitment to its employees and their well-being.
What is the UAW asking for?
The UAW initially demanded a 40% increase in wages over four years, but has since lowered the request to 36%. Additionally, the union is calling for the reinstatement of cost-of-living adjustments to wages to safeguard against inflation, a benefit that was lost by workers in 2009.