DEARBORN (dpa-AFX) - The United Auto Workers union said it reached a tentative agreement with Stellantis (STLA) after a six-week strike at the Big Three companies.
The agreement, which would still need to be approved by union leaders and ratified by members, follows a similar deal that was struck with Ford Motor (F) last week.
The UAW began strikes against Ford Motor, General Motors(GM) and Stellantis in September.
The union has yet to reach a deal with General Motor and expanded its strike to a GM assembly plant in Spring Hill, Tennessee.
The UAW said the Stellantis deal includes gains valued at more than four times the gains from the union's 2019 contract. It provides more in base wage increases than Stellantis workers have received in the past 22 years.
According to the UAW, the Stellantis agreement grants 25% in base wage increases through April 2028, and will cumulatively raise the top wage by 33% compounded with estimated COLA to over $42 an hour. The starting wage will increase by 67% compounded with estimated COLA, to over $30 an hour.
The lowest-paid workers at Stellantis, temporary workers, will see a raise of more than 165% over the life of the agreement. Some workers at Mopar will receive an immediate 76% increase upon ratification, the union said.
The Stellantis agreement reinstates major benefits lost during the Great Recession, including Cost-of-Living Allowances and a three-year Wage Progression, as well as killing divisive wage tiers in the union. It improves retirement for current retirees, those workers with pensions, and those who have 401(k) plans.
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