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.
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.