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The tentative agreement provides historic economic gains for our UAW members through a combination of annual general wage increases, the reinstatement of Cost of Living Allowance (COLA), and an up-front lump sum ratification bonus of $5,000.
For current retirees, Ford is offering a $250 annual lump sum payment, and GM just a one-time $1,000 lump sum. Stellantis isn’t offering anything on that front.” We’ll have more on the UAW strike soon, so be sure and subscribe to Ford Authority for the latest Ford-UAW news , UAW news , and 24/7 Ford news coverage.
According to this report, Stellantis UAW workers have begun receiving this new special retirement incentive, which consists of a pre-tax $50,000 lump sum this year, with another lump sum deal set to be delivered in 2026 as well.
All eligible Ford autoworkers will receive a $5,000 lump sum ratification bonus if the membership approves the deal. Temporary workers will also receive the bonus.
Eligible GM retirees will be receiving their $500 bonus on Friday, December 15, 2023 in the same form of payment as your pension check! Happy Holidays🎄.
Statement on UAW-Ford Contract Ratification. The following statement can be attributed to Ford President and CEO Jim Farley: We are pleased the agreement has been ratified and we are very happy for our more than 57,000 UAW-represented employees and their families.
DEARBORN, Mich., Oct. 25, 2023 – We are pleased to have reached a tentative agreement on a new labor contract with the UAW covering our U.S. operations. Ford is proud to assemble the most vehicles in America and employ the most hourly autoworkers.