Ford union workers ratify UAW deal, closing out historic negotiations with Detroit automakers
Publishing timestamp: 2023-11-17 13:47:35
Summary
The United Auto Workers members at Ford Motor have ratified a new labor contract, following similar agreements with GM and Stellantis. The contract includes at least 25% wage increases and marks the end of targeted strikes by the UAW. The majority of Ford facilities approved the deal, with 68.2% of autoworkers voting in favor. The agreements represent record-setting deals for the union and will result in increased labor costs for the automakers. Ford CFO John Lawler stated that the deal would add $850 to $900 in costs per vehicle assembled.
Sentiment: NEUTRAL
Tickers: GM, STLAM-IT, F, STLA,
Keywords: business, stellantis nv, general motors co, breaking news: business, business news, transportation, personnel, united auto workers, labor unions, autos, labor economy, detroit, ford motor co,
Source: https://www.cnbc.com/2023/11/17/uaw-ford-workers-ratify-new-contract.html