The United Auto Workers (UAW) union on Wednesday announced it had reached a tentative contract agreement with Ford, bringing a possible end to the strike that has lasted for 41 days.
The Associated Press (AP) reported the deal is for four years and added that no agreements were announced for automakers General Motors and Stellantis. All three companies’ factories had been impacted by the strike.
According to the AP, the 57,000 UAW members at Ford still need to approve the deal. A proposed deal must first go to union members for informational review, and then a majority vote will be held to ratify or reject the deal.
UAW President Shawn Fain announced the deal with Ford in a video posted on Facebook.
“We told Ford to pony up, and they did,” Fain said.
Fain said the deal includes a 25 percent wage increase over the course of the contract and that workers will receive an 11 percent wage hike right away. According to Reuters, workers’ pay will rise about 33 percent to over $40 an hour over the life of the contract when compounding and cost of living is included.
Ford CEO and President Jim Farley confirmed the news in a statement.
“We are pleased to have reached a tentative agreement on a new labor contract with the UAW covering our U.S. operations,” Farley said.
Scott Olson/Getty Images
This is a breaking story and will be updated as more information becomes available.
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Newsweek is committed to challenging conventional wisdom and finding connections in the search for common ground.
