IONR
4.03 USD +0.14 (3.60%) today
Ford, UAW reach tentative deal to end strike including record pay raise
October 26, 2023
Oct 25 (Reuters) - 'The United Auto Workers (UAW) union reached a tentative labor deal on Wednesday with Ford Motor (F.N), the first of Detroit's Big Three car manufacturers to negotiate a settlement to strikes joined by 45,000 workers since mid-September.The proposed accord, which UAW's leadership must still approve, provides a 25% wage hike over the 4-1/2-year contract, starting with an initial increase of 11%.The Ford deal, which could help create a template for settlements of parallel UAW strikes against General Motors (GM.N) and Chrysler parent Stellantis (STLAM.MI), would amount to total pay hikes of more than 33% when compounding and cost-of-living mechanisms are factored in, the UAW said.'
Everything positive, so we go down today??
External News & Commentary, page-2043
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