With the deadline to reach a deal now just a day away, Ford says the company has given the UAW its “most generous offer in 80 years.'
Ford CEO Jim Farley discussed the proposal Tuesday outside an event unveiling the new F-150 ahead of the North American International Auto Show in Detroit.
"Pay increases, elimination of tiers, inflation protection, five weeks of vacation, 17 paid holidays, bigger contributions for retirement," he said.This Thursday, the UAW collective bargaining agreement will end, meaning a strike is likely for the roughly 146,000 employees of Detroit's Big Three. Union members will get some pay while on strike and are eligible for some benefits while on strike – but here's a breakdown of how that all pays out.
Though this offer includes pay increases and inflation protection, Farley did not go into specifics about those numbers. Other automakers have also offered inflation protection in the form of lump sum payouts. In a previousFarley called the new deal a "significant enhancement."UAW President Shawn Fain has broken with the decades-long tradition of focusing in on one target automaker to bargain with ahead of a new deal, and car industry analysts are studying it all.
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