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A second-tier wage of $14.50 an hour, which applies only to newly hired workers, is lower than the average wage in non-union auto companies in the Deep South. [ 47 ] One of the benefits negotiated by the United Auto Workers was the former jobs bank program, under which laid-off members once received 95 percent of their take-home pay and benefits.
On October 25, a tentative agreement was reached between the UAW and Ford; it includes an 11% wage increase in the first year, and total 25% increase in wages over the 4.5 year contract, a $5,000 ratification bonus and a cost-of-living adjustment. When including cost-of-living adjustments, total pay could be raised by 30%.
The union did back off some of its early demands that included a 32-hour work week, restoring defined benefit pensions and a 40% pay rise over the life of the contract.
In an online speech, UAW President Shawn Fain said the new contract includes wage increases of more than 25% o United Auto Workers reaches deal with Daimler Truck, averting potential strike in ...
Ford workers in Dearborn were among the final UAW members to cast votes on the historic 2023 UAW contract. Ford workers ratify historic 2023 UAW contract with 69.3% support for wage hikes ...
Shawn Fain in his first year as UAW president received a total of $228,872 from the union in salary and other payments. The total includes a gross salary before deductions of $198,526 and $2,835 ...
Faria noted that UAW president Ron Gettelfinger agreed to have the UAW's "all-in" wage, benefit and pension costs drop from a high of $75.86 per hour in 2007 to an average of about $51 per hour starting in 2010. By comparison, the CAW's cost per hour was $77 in 2007 and will rise to over $80 per hour by the end of the new contract.
The benefits include another $1,000 annual payment to 401(k) plans to offset retirement health care costs for hires since 2009 and pension benefit increases along with maintaining the current ...