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The United Auto Workers union representing employees at Detroit’s Big Three automakers has agreed in principle to the terms of a tentative agreement with Ford, according to sources close to the matter. At this time, the UAW has still not agreed to a deal with GM and Stellantis
Sources who spoke anonymously said the tentative agreement is still pending approval from UAW leaders. It will also need to be ratified by UAW workers, according to NBC News.
Sources said the union and Ford took part in intense negotiations on October 24 and 25 in order to get a deal finalized. The talks involved a proposed wage increase of at least 25% over the life of the deal as well as other benefits previously discussed between the company and the union.
Spokespeople for Ford declined to comment to CNBC on the negotiations October 25 but did mention that talks were ongoing. A UAW spokesperson did not respond to a request for comment from CNBC.
“Our union has united in a way we haven’t seen in years. From the Great Lakes to the Gulf of Mexico, our members came together to tell the Big Three with one voice that record profits mean a record contract,” said UAW vice president Chuck Browning in an October 25 video address. “Thanks to the power of our members on the picket line and the threat of more strikes to come, we have won the most lucrative agreement per member since Walter Reuther was president.”
About 13,000 UAW union members went on strike September 15 against Ford, General Motors and Stellantis. As of October 25, the number of people who have walked off the job at factories operated by the big three automakers has increased to roughly 40,000 individuals.
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