The United Auto Workers union (UAW) announced on Wednesday evening that a preliminary agreement has been reached with Ford.
The agreement marks a break in a strike by workers at Ford, General Motors and Stellantis that has been ongoing since September 15, and is the first time that all three of Detroit’s largest automakers have gone on strike at the same time.
The tentative agreement, which has yet to be approved by a vote of the workers, includes a 25% pay increase for hourly rate workers.
“It was important for us to get back to work and restart production,” Ford Chief Financial Officer John Lawler said a day after the deal.
He indicates that the impact of the strike on the financial results will be most felt in the fourth quarter.
2023-10-27 10:44:32
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