© Reuters. FILE PHOTO: The logo of Ford is seen on a 2020 Ford Explorer car at Ford’s Chicago Assembly Plant in Chicago, Illinois, U.S. June 24, 2019. REUTERS/Kamil Krzaczynski/File Photo
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F
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STLA
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(Reuters) -The United Auto Workers (UAW) union said Monday that 64% of workers at the Detroit Three automakers voted to ratify new record contracts.
Support from workers at some parts and components operations who stand to get substantial raises as they move to higher pay classifications outweighed votes against the contract from some veteran workers.
About 55% of votes cast by General Motors (NYSE:GM) members were in favor of the new deal, while about 69% of Ford (NYSE:F) Motors members and 68% of worker at Chrylser parent Stellantis (NYSE:STLA) who voted supported the agreement.
Following is a roundup of the new labor contract and demands from the UAW:
Criteria UAW’s demands GM Ford Stellantis
Battery-produc Contracts for Workers Workers To build two
tion workers workers at EV covered by covered by new battery
battery contract contract plants in
plants Kokomo, to
locate a new
battery
plant in
Belvidere
Cost of living Wanted COLA Restored Restored Restored
allowances to be
(COLA) restored
Base-wage hike 40% 25% 25% 25%
Ratification N/A $5,000 $5,000 $5,000
bonus
Right to Had demanded Yes Yes Yes
strike over
plant closures
Equal wage Tier-system Yes Yes Yes
scale (no among
tiers) employees
eliminated
Temp employees Better All new temps All new All new
benefits for converted to temporary temporary
temp “in-progressi employees employees
employees on” after 9 converted converted to
months to “in-progress
“in-progre ion” after
ssion” 9 months
after
9 months
Work-life More paid All employees 200 hours N/A
balance time off for with 20 years vacation
workers or
more of
service are
eligible for
200 hours of
vacation
Retirement Improved Improves Increased Improves
benefits retirement contributi retirement
for current ons to for current
retirees, 401(k) retirees,
those workers individual those
with retirement workers with
pensions, and plans of pensions,
those who current and those
have 401(k) workers who have
plans. and 401(k) plans
increased
pension
payments
for
current
retirees
Reduced Demanded a Not covered Not Not covered
working hours 32-hour work covered
week
Source: UAW statements
Source: Investing.com
