(Reuters) – United Auto Workers President Shawn Fain said on Friday the three Detroit automakers had converged on a 23% wage hike after fresh contract offers from General Motors and Stellantis NV but “there is more to be won” .
Ford made its offer over two weeks ago.
Here is a look at the top talking points, and how negotiations have progressed more than a month after the strike began, according to UAW President Shawn Fain and the companies:
Ford General Motors Stellantis
Wages Top offer of Offered about Offered about
23% hike 23% increase. 23% increase.
Wage Cut timeline Within the Cut timeline
progression to get to top life of the to get to top
wage rate to contract, all wage rate to
three years senior four years.
from eight. employees
reach max wage
Temporary Wages raised Wages Wages raised
workers’ wages to $21/hour. increased to to $20/hour.
Cost-of-living- Agreed to Reinstatement Agreed to
adjustments reinstate of COLA for reinstate
(COLA) cost-of-living senior team cost-of-living
allowance. members allowance.
Plant closures The UAW can No agreement The UAW can
strike over regarding the strike over
plant issue. plant
Retirement No agreement Company No agreement
benefits to restore contributions to restore
pre-2007 increased by pre-2007
defined 25% (from 6.4% defined
benefit to 8.0% of benefit
pension plans. wages) for pension plans.
Battery Plants No agreement. Agreed to No agreement.
to be covered
Source: Fain’s statement, company statements
(Reporting by Niket Nishant, Abhinav Parmar and Pratyush Thakur in Bengaluru; Editing by Shinjini Ganguli and Sriraj Kalluvila)