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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 employer wishes to establish a pay for performance or merit pay wage scheme that compensates more productive employees without increasing overall wage costs. The employer wishes to reduce overall wage costs by hiring new employees at a wage less than the wage of incumbent workers. [1] [2] A much less common system is the two-tier benefit ...
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.
Under the UAW’s 2019 contracts, which expired Friday, a new hire can eventually work up to the pay level of a veteran employee, but reaching parity takes eight years.
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 ...
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 ...
DETROIT (Reuters) -United Auto Workers leaders approved a tentative deal Sunday with Ford that includes a pay hike of at least 30% for full-time workers and could more than double pay for others ...
Tiers for the Detroit automakers were created starting in 2007 as the UAW tried to help them out of serious financial troubles. Auto worker strike highlights disparities between temporary and ...