After nearly six weeks, the United Auto Workers (UAW) and Ford Motor Company have reached an agreement to end the strike. Both the union representing the workers and the automaker announced a tentative agreement for employees to return to their jobs with better working conditions.
However, this agreement still needs approval from both local union leaders and a simple majority of the 57,000 employees represented by the UAW. Once they read the new conditions, they will hold a meeting and make their decision public.
Ford Motor Company and the UAW agreed to a 25% wage increase for workers, who will earn more than $40 per hour. New employees will earn 68% more (more than $28 per hour) than those who signed their contract before this agreement.
In a video posted on social media, UAW President Shawn Fain and Vice President Chuck Browning displayed their pride in having made progress that "nobody thought was possible."
Record profits mean record contracts. We have a tentative agreement at Ford. #StandUpUAW pic.twitter.com/Z00T5CfQJN
— UAW (@UAW) October 26, 2023
For its part, the manufacturer wrote in a statement:
We are pleased to have reached a tentative agreement on a new labor contract with the UAW covering our U.S. operations. The agreement is subject to ratification by Ford’s UAW-represented employees. Consistent with the ratification process, the UAW will share details with its membership.
The end of the automobile sector strike has begun with the pact between Ford Motor Company and the UAW. Now, the union will have to reach an agreement with Stellantis and General Motors.
Both manufacturers expressed their willingness to reach a tentative agreement "as soon as possible," according to CNBC.
