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You are at:Home » Highlights of the UAW-Ford agreement
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Highlights of the UAW-Ford agreement

Gazet InternationalBy Gazet InternationalJanuary 8, 2024Updated:January 27, 20251 Min Read
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The United Auto Workers put out key elements of the union’s preliminary 4 1/2-year contract with Ford Motor (F.N) on Sunday, which, if ratified by members, will end a bitter strike.

The following issues have been raised by UAW leaders:

Ford will invest $8.1 billion in factory renovations and new model introductions.

Increases of 33% or more for many workers over the course of the contract, including cost-of-living adjustments that raise earnings in step with inflation. Workers at the top will earn an extra $70,000 throughout the course of the contract.

Wages for the lowest-paid temporary workers might increase by 150%.

A path for battery and electric car plants to join the union at comparable pay rates.

Increased contributions to current workers’ 401(k) individual retirement plans, as well as higher pension payments to current retirees.

Ford will be able to offer buyouts to senior employees.

Temporary workers will become permanent workers faster, and workers on the job will advance to the highest pay rate in fewer years.

Benefits include parental leave, a new Juneteenth paid holiday, and tuition assistance increased to $8,000 per year.

The right to strike in response to plant closures.

Greater profit-sharing, which would have boosted dividends by $1,200 last year.

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#EV #FORD #GAZETINTERNATIONAL #GI #GIAWARDS #INFLATION #laborrights #parentalleave #profitsharing #retirementplans #UAW #UNION #unitedautoworkers #wages #workingconditions
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