The sides participated in intense bargaining Tuesday and Wednesday in an attempt to finalize a record deal for 57,000 union-represented workers at Ford.
Recent talks have involved a proposal for wage increases of at least 25% over the term of the deal as well as other improved benefits.could be closing in on a tentative agreement that would end a nearly six-week strike at the automaker, sources with knowledge of the discussions confirmed Wednesday to CNBC.
The sides participated in intense bargaining Tuesday and Wednesday in an attempt to finalize a record deal for 57,000 union-represented workers at Ford, according to the sources, who agreed to speak on the condition of anonymity because the sensitive nature of the private talks. The situation remains fluid and it's possible the recent progress in negotiations won't result in a tentative agreement, but the sides are closer than they've ever been before, according to one source. The union also could walk away from the table with a better offer to then get GM and Stellantis to match it before agreeing to a tentative agreement.
The union initiated negotiations with all three automakers at once, breaking from recent history when UAW leaders would bargain with each automaker individually, select a lead company to focus efforts on and then pattern the remaining deals off a leading tentative agreement. However, a potential tentative agreement with Ford would likely be used as a template to negotiate with Stellantis and GM. The union expanded strikes against both of those automakers at major plants this week.
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UAW appears to be moving toward a potential deal with Ford that could end strikeThe United Auto Workers union appears to be edging closer to a tentative contract agreement with Ford that would be critical to ending the union’s 6-week-old strikes against the three major Detroit automakers.
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